The economic euphoria in India over the last few years has suddenly soured. Although still relatively upbeat compared with many other countries, the Indian public’s confidence in their country’s direction and future economic growth has declined significantly compared with just a year ago.
The economic mood is exceedingly glum all around the world. A median of just 27 percent think their national economy is doing well, according to a survey in 21 countries. Those in emerging markets are more upbeat than those in the European Union and the U.S. The global economic crisis also has eroded support for capitalism.