In another good news for Narendra Modi government, a survey conducted by global consultancy PwC, ranked India at the fifth spot for most favourable investment market.
India has emerged as the fifth most attractive market for investments and the optimism over global economic growth is at a record level, PwC survey of CEOs revealed.
The findings come on a same day when the International Monetary Fund has projected a 7.8% growth rate for India in 2019.
Growth rate projections for both 2018 and 2019 remains unchanged since its October 2017 WEO projections. China, during the same period is expected to grow at 6.6% and 6.4% respectively, the IMF said.The IMF said, the aggregate growth forecast for the emerging markets and developing economies for 2018 and 2019 is unchanged, with marked differences in the outlook across regions.It projected India to grow at 7.4% in 2018 as against China's 6.8%.
PwC's 21st CEO survey said,"The US remains the top spot for global investment, while India moves into the top 5".
It further added that there is surprising faith and optimism among chief executives in the economic and business environment worldwide, at least over the next 12 months.
Around 46 per cent of global CEOs consider the US as one of the three most important countries for growth, followed by China (33 per cent) and Germany (20 per cent) at second and third places, respectively. At the fourth spot is the UK (15 per cent).
"India (9 per cent) bumps Japan (8 per cent) as the fifth most attractive market in 2018," it noted.
PwC India Chairman Shyamal Mukherjee said backed by definitive structural reforms, the India story has been looking better in the past one year.
"Most of our clients are optimistic about their growth.
The government has made efforts to address concerns around areas like infrastructure, manufacturing and skilling, although newer threats like cybersecurity and climate change are beginning to play on the minds of our clients," he noted.
As per the survey, 54 per cent of the CEOs plan to increase their headcount this year while only 18 per cent expect to reduce their staff.
The sectors having the highest demand for new recruits are health care (71 per cent), technology (70 per cent), business services (67 per cent), communications (60 per cent), hospitality and leisure (59 per cent).
(With inputsfrom PTI)
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