India hopes for a strong start in the first half of 2013 with increased optimism levels among businesses as compared to the previous year.

In 2012, businesses, globally, experienced both positive and negative shades in optimism levels. While, the level of business optimism around the world touched an incredible 23 percent in the first 6 months of the last year, thereafter optimism levels took a steep fall as the year ended with a zero percent. Currently, business optimism levels around the globe are at 4 percent, according to Grant Thornton’s International Business Report (IBR).

In 44 economies, 3,200 business tycoons participated in a survey conducted by Grant Thornton, which suggested the factors for slow growth in the business optimism levels, like uncertainty over the long term viability of eurozone and the horror of the ‘fiscal cliff’ in the United States. Nevertheless, India shows a lot of promise this year with an increase of 13 percent in optimism levels compared to last year and this IBR data gives hopes for a strong 2013.

Munesh Khanna of IBR, states that Indian businesses have started well with strong optimism levels because of green signals given to mega projects, regulation implementation, possibilities of reduction in interest rates and policy changes. With these factors, Indian economy is poised to see a sustainable growth.

With global business optimism of 4 percent, India maintains an outstanding level of 71 percent on the optimism chart. Indian business leaders are already filled with enthusiasm by the increased revenue which is resulting in increased optimism, employment opportunities and profitability.

Worldwide, the ECB and the US Federal Reserve had showed a great passion in supporting their respective economies when the markets were on a real high in the start of the 2012. However, as the markets ran into the red thereafter, the optimism across Europe and the United States witnessed a sharp dip in last year. However, emerging economies sustained the growth levels and remained less volatile. While, business optimism in North America erupted from 6 percent in Q42011 to 52 percent in Q22012, it finally ended the year with just 1 percent.

G7 economies followed the same trend of upswings and downswings in business optimism but European businesses were on a continuous slow decline.

BRIC (Brazil, Russia, India, China) economies maintained a level of 34 percent to 39 percent throughout the year while Latin America carried a more balanced optimism, from 61 percent in Q1 to 69 percent in Q42012. Asia Pacific remained optimistic as business optimism rose from 23 percent to 28 percent in last year.