According to a survey by Grant Thornton.74 percent mid-market business leaders in India are optimistic about the Indian economy, as against 69 percent globally, amid revival in the economy, after the critical impact of Covid-19' second wave. For the first time since the start of the pandemic, Grant Thornton's global index of mid-market health is back on an upward trajectory.

"Indian economy is on a steady path of recovery. India's long-term fundamentals remain strong and supported by various policy reforms, the investment and business activity are likely to gain full steam ahead as things open further in India and overseas," Grant Thornton Bharat National Managing Partner, Tax, Vikas Vasal, said. As per the Global Business Pulse, the outlook remains more or less the same, compared with H2 2020 survey results, but one can see a tremendous achievement by the mid-market businesses outlook pointing towards a wider economic recovery, the survey noted.  "Living with the pandemic is inevitable, however, businesses are now better equipped than before in ensuring that the recovery remains stable," Vikas Vasal said.

At the heart of this recovery is a much stronger outlook by the mid-market business. Nearly 69 percent are expecting to grow their turnover in the next 12 months, while 68 percent are expecting an increase in profitability. The improved outlook chimes with the World Bank's forecast of a 5.6 percent growth in the world economy in 2021 and what it terms as "its strongest post-recession pace in 80 years". Also, investment sentiments by these businesses are tilting towards technology (70 percent), R&D (68 percent), staff skills (66 percent), and physical plants and machinery (65 percent), as per the survey.

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