The majority of Indian businesses–73%–plan to increase hiring and add new employees in the next twelve months, according to the latest reports from the Grant Thornton International Business Report, which surveys over 3,000 businesses in 44 countries, four times a year. Their most recent survey found that only 36% of employers, globally speaking, planned to grow their rosters.
India’s numbers were higher than average in other areas too: 83% of India-based businesses are “optimistic” about their local economy, compared to the global average of 50%. Inflation is expected to have an extreme impact on Indian industry–75% of those businesses surveyed plan to increase the prices of their products, and 88% expect to raise employee wages.
Vishesh Chandiok, a partner at Grant Thornton’s India branch, told The Times of India that the survey shows an increase in optimism and demand, as well as willingness to invest, but “there’s still an issue of uncertainty.” He added that business owners, considered about a potential stock market crash, are torn between keeping their money close at hand, and making large investments that could boost them ahead of the competition.