DAVOS: India has dropped to the third spot in a global trust ranking that measures public confidence in the government, businesses, media, and NGOs, according to a study showed on Monday (January 20) at the World Economic Forum (WEF) in Davos. The research highlight a growing gap between trust levels among the country's low-income and high-income populations.
The Edelman Trust Barometer, now in its 25th edition, ranks nations based on surveys conducted across 28 countries. While India retained its score from last year, it was overtaken by Indonesia, which now holds the second position. China continues to top the list as the most trusted country in this index.
Trust in Indian Companies Abroad Ranks Low
India's performance in terms of trust in companies headquartered in the country remains concerning. On this list, India ranked 13th, trailing behind nations such as Canada (ranked first), Japan, Germany, the UK, France, and the US. Other countries that surpassed India in this category included Mexico, Saudi Arabia, South Africa, Brazil, and China.
Income Divide in Trust Levels
The survey revealed a stark disparity in trust levels between India’s low-income and high-income groups. Among the high-income population, trust in Indian institutions stands at an impressive 80%, placing India fourth globally behind Indonesia, Saudi Arabia, and China. However, this drops significantly to 65% among the low-income group, highlighting a trust gap tied to economic inequality.
Globally, similar trends were observed, with low-income populations generally expressing less trust in institutions compared to their wealthier counterparts.
Troubling Global Trends: Disinformation and Hostile Activism
The survey also exposed global concerns about the legitimacy of institutions and the growing acceptance of hostile activism. Alarmingly, 40% of respondents, including 53% of those aged 18-34, supported extreme measures such as spreading disinformation, online attacks, or even acts of violence to bring about change.
Furthermore, confusion around credible information is on the rise, with 63% of respondents finding it harder to distinguish between trustworthy news and misinformation.
Distrust in Global Leaders and Top Economies
The study highlighted an unprecedented erosion of trust in institutional leaders worldwide, with 69% of respondents fearing that government officials, business leaders, and journalists intentionally mislead them.
Interestingly, five of the world’s largest economies ranked among the least trusted nations: Japan (37%), Germany (41%), the UK (43%), the US (47%), and France (48%). In contrast, developing nations like China (77%), Indonesia (76%), India (75%), and the UAE (72%) demonstrated higher trust levels.
Economic Grievances Widening
Edelman CEO Richard Edelman emphasized the shift in societal concerns, stating, “Over the last decade, society has devolved from fears to polarization to grievance.” A significant 60% of respondents globally expressed feelings of grievance, citing perceptions that governments and businesses prioritize the wealthy over ordinary people.
The wealthy were singled out as contributors to this grievance, with 67% of respondents believing they evade paying fair taxes, and 65% blaming their selfish behavior for societal problems.
Key Takeaway
Despite challenges, employees continue to place the highest trust in their employers, with 75% expressing confidence in this institution, even after a slight decline in trust levels.
The Edelman Trust Barometer underscores the pressing need for institutions globally to address economic inequalities, misinformation, and growing public discontent to rebuild trust among the masses.