The report claims India is at the forefront of trust in domestic companies; Geopolitics has become important for trust in business

Posted on 25th May 2022 by rohit kumar

India leads in terms of trust in domestic companies with 89 percent. Indian companies have emerged as the most trusted among the domestic population. In this case, China is second with 82 percent. Canada is third, the US is fourth and the UK is fifth. The special report of Edelman's Trust Barometer, released at a meeting of the World Economic Forum, said geopolitics has become important for trust in business.

 

The report said companies are also under pressure to respond to Russian aggression at a time when there are challenges of geopolitical conflict, economic uncertainty, climate threats, and social inequalities. 47 percent of the study participants said they bought or boycotted the brand based on the parent company's response to Russia's invasion of Ukraine. In addition, employees of the companies reported that they believed that their employers would be more loyal to them if they responded well to the invasion of Ukraine.

 

 

Combatant performance of Indian companies in Corona

 

On the other hand, 50 percent of CEOs of Indian companies believe that despite the impasse related to the Corona epidemic, domestic companies have demonstrated a lot of combative ability. According to a survey by EY India, geopolitical challenges have also created some new challenges for the business.

 

Despite these challenges, the companies showed resilience at a time when the Indian economy was recovering from the corona epidemic and moving forward on the path of recovery.

 

Mergers and acquisitions became the main weapon

 

EY says mergers and acquisitions remain a key strategic tool for Indian CEOs amid geopolitical tensions, inflation, and supply pressures, among other things. Instead of creating a new business, they go through the established business.

Emphasis on acquisition. Re-setting their risk assessments and formulating their investment strategy for the future.

 

80 percent of domestic CEOs say that global operations and supply chains have to be adjusted accordingly. At the same time, 63 percent want to reduce logistics costs and increase combat capacity.

 

Rajiv Memani, Chairman, EY India said, “Indian CEOs are coming forward to meet the current challenges.

 

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