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'India leads the world in economic confidence'
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SME Times News Bureau | 11 Mar, 2016
India continues to lead the world in economic confidence as Indian CFOs
expect moderate growth driven by investments in expanding domestic
markets and exports.
"India is leading the way in terms of both
business confidence and investments," said Saru Kaushal, country head,
global corporate payments, American Express in a statement.
However,
she stated that optimising cash flow and using it judiciously to grow
and protect the business was the focus and reducing risk exposure by
concentrating on domestic markets along with increased sales and
marketing, risk management, security and production activities.
According
to the ninth annual Global Business and Spending Monitor by American
Express and CFO Research, Indian executives are the most confident lot
on growth plans compared to their international counterparts and 90
percent of the respondents felt that growth will depend on exports.
The
survey has noted 80 percent Indian respondents citing prevailing
economic and political uncertainty in others countries may increase
their focus on the domestic market.
"This may be the reason that
77 percent of the Indian leaders are looking to expand business
activities locally including sourcing, distribution, production and/or
outsourcing," said the statement.
Interestingly, 100 percent of
the Indian executives polled said they will look at increasing their
spending and investment to drive top line and bottom line while 80
percent respondents expect spending to escalate by 10 percent and 50
percent respondents by 15 percent.
However, there was a decline in the number of executive expecting aggressive spending.
Another
crucial aspect highlighted by the report was the increased spending on
IT to secure business and improve customer service.
"In a global
business environment that is now knit together with technology,
executives are more keenly aware of the business risks that come from
inadequate information security, and they are particularly reluctant to
skimp on technology spending," said the statement.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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