3 in 5 Indians expect quick recovery of economy post lifting of lockdown

Three in five Indians are optimistic of an early economic recovery post lifting of the lockdown, according to a survey

The survey by Ipsos placed India (63 per cent) as being the third most optimistic market, with Vietnam emerging as the most optimistic nation (80 per cent) followed by China (68 per cent). However, people surveyed in Spain, France, Italy, United Kingdom, Russia, Japan and Canada appear to be the most pessimistic of early economic recovery, according to the survey of nearly 29,000 respondents across 15 nations conducted from April 9 to 12. nbsp; Among those surveyed, people in Spain (76 per cent), France (72 per cent), Italy (68 per cent), the United Kingdom (67 per cent), Russia and Japan (64 per cent), and Canada (62 per cent) feel most strongly against a quick economic recovery. "The Indian economy is fueled by domestic consumption. Once the lockdown is relaxed, consumer spending will pick up, if this optimism translates into action and we'll see some positive changes in the economic activity with demand and supply bouncing back. Also, the government is already devising steps in easing it for all the key stakeholders," says Amit Adarkar, CEO, Ipsos India. Besides, over half of people polled in India, Brazil and Germany appeared skeptical if restrictions and self-isolation work in curbing the spread of COVID-19, the survey found.