Indian shoppers in upbeat mood

17 February 2011

NEW DELHI: Consumer confidence is rising in India, where shoppers remain among the most optimistic in Asia.

Financial services provider MasterCard surveyed 830 people in the country about their attitudes and behaviour, and conducts similar research twice a year.

Using a 100-point scale, with scores passing 50 points indicating a broadly positive outlook, the company revealed its index has reached the highest level since 2008, on 73 points.

When assessing income prospects for the next six months, contributors posted a rating of 75.4 points, measured against 74 points from the previous such poll.

Figures stood at 72.2 points while discussing the economy, 71.3 points concerning quality of life, and 70.8 points regarding the employment situation.

"Strong GDP growth and rising personal demand have fuelled a remarkable increase in optimism among Indian consumers," TV Seshadri, general manager, South Asia, for MasterCard Worldwide, told the Economic Times.

Residents of Chennai returned the best totals overall, yielding 90.7 points, followed by their counterparts in Bangalore, on 85.6 points.

MasterCard also reported that India is above the Asia-Pacific average, currently standing at 68 points, off by 1.1 points since the last round of analysis, but improving by 1.7 points compared with a year ago.

"The marginal drop in consumer confidence seen across the Asia/Pacific region emanates from the uncertainty felt towards the performance of the stock market and the economy," said Seshadri.

Data sourced from Economic Times; additional content by Warc staff