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India may also witness 'Occupy' movement: Poll

IBNLive Specials
Dec 01, 2011 at 11:35am IST

New Delhi: Even as a bitter political debate rages on the controversial FDI in retail issue and an overwhelming number of urban middle class can't wait for a Walmart or an Ikea in their neighbourhood, an overwhelming 55% of the respondents in the Hindustan Times-CNN-IBN survey think that disenchantment with global corporations may spill over to the streets in India the way it has with the Occupy Wall Street movement in the US and similar movements elsewhere.

Conducted as part of the build-up to the HT Leadership Summit, scheduled to be held in New Delhi on Dec 2 and 3, the survey on 'A New Economic Order' in India threw up some revealing facts. While almost 43% of the respondents think the UPA government has not done enough in the past year to protect the Indian economy. An ever-rising inflation in the prices of essential commodities, food and fuel has added to the public anger. However, an impressive 32% think otherwise and think the government has done enough to protect the economy from the global crisis.

Opinion is also almost equally divided as far as the recovery of the global economic order is concerned. While 43% hope that the world economy will stage a recovery in less than a year, 41% think otherwise. The survey also suggests that the outsourcing industry - India's flagship economic driver which now faces rising wages and growing shortage of talent - is in crisis. While 43% think the industry may sustain itself in India for at least another decade, an equal number of respondents say that the industry may either last a couple of more years or that India has already lost that battle.

The larger picture, however, remains encouraging. 62% of those surveyed think India continues to remain attractive for investment. That perhaps explains why when asked about India's role in the global economic order, the largest number of respondents said it's 'understated'. In other words, the world, unlike most Indians, has not yet recognised the economic potential and might of the country.

For more on the Hindustan Times-CNN-IBN survey and the issues it raises, watch the special series on CNN-IBN to be aired this week from Monday to Thursday at 10 pm.

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