Indians cynical about job, income scenario: Survey

Indian consumers are highly optimistic about the quality of life and the stock market. However, they are pessimistic about the employment situation in the country and the continuity of regular income.

These are some of the key findings of MasterCard International's MasterIndex survey on consumer confidence in the South Asia, Middle-East and Africa (SAMEA) region.

In addition to India, the study tracks the consumer confidence in Egypt, Kuwait, Lebanon, Saudi Arabia, South Africa and the UAE. The survey was undertaken before the general elections in India.

The respondents from across the SAMEA region numbering 2,800 consumers were surveyed in February 2004, tracking the sentiment on five variables "" employment, economy, regular income, stock market and quality of life.

The consumer confidence index in India stands at 63.5 per cent, just marginally above the pessimistic level with the maximum confidence given to the quality of life (77.4 per cent) and the stock market (70.6 per cent). Indian respondents gave the lowest marks to the employment situation (44.4 per cent).

Contrary to the pessimism among Indian consumers, those in Kuwait (90 per cent), UAE (87.1 per cent) and Saudi Arabia (77.8 per cent) have an optimistic outlook on all fronts.