In a time when the world is reeling under economic slowdown, geopolitical tensions, rising energy prices, India’s Marketing Decision Makers have indicated a Significantly Positive Revenue Optimism n Q1 2023. The Revenue Expectations moved up from Positive (75.80) in Q4 2022 to Significantly Positive (88.20) in Q1 2023.
The Q1 2023 Revenue Optimism was 12.3% greater than in Q4 2022. When seen along with the diffusion index for the Marketing Budgets delta in Q1 2023 at 80.50 indicating a High Increase in the same quarter, the optimism is further reinforced.
The revenue optimism underlines the robust World Bank projection of 6.6% growth of India in 2023-24 despite headwinds of to global slowdown, which the Bank said was due to adequate policy buffers, strong private consumption and fixed investment growth.