80% Indians positive on financial future: Survey

MUMBAI: Nearly three Indians out of every four are either positive or neutral about the country's economic future while an overwhelming majority — eight out of ten — feel positively about their financial future.

This is the highest in Asia and the second highest globally.

A large number of Indians, 75%, also feel that they are in control of their finances, second only to China's 84% and much above the global average of 55%, according to a worldwide survey of investors by global assets management major BlackRock.

The Global Investor Pulse survey by BlackRock was conducted in 20 countries and had 27,000 respondents, of which 1,500 were from India.

The survey, in its second year, is done to better understand how investors are dealing with their life's decisions, how they are approaching their finances, their financial needs and also their investment behaviour.

The survey showed that about every second Indian was interested in investing in stocks. Globally, the corresponding number was just about one in every four. It also showed that Indians who have already invested in stocks were more likely to increase their holdings in this asset class (54%) over the next one year compared to the rest of the world (34%).

The survey once again reinforced Indians' preference for guaranteed-return products and also for investments which assure that at least their initial funds will not be lost. They also prefer easy-to-understand investment products.

It also showed that among Indians who hold investments other than cash, 70% hold life insurance products, 64% hold fixed deposits while 46% hold shares.

A majority of Indians, 54%, also feel that the job market is getting better. The survey also showed that the positivity in India is tempered by concerns like the high cost of living, the state of the domestic economy and inflation.

A large number of Indians, 75%, feel that they are in control of their finances, second only to China's 84% and much above the global average of 55%, according to a BlackRock survey.