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Indians have the highest trust in business

By Arun Kumar, IANS,

Washington : Trust in business is recovering significantly in some of the world’s largest markets with India and China most positive about business and the US rebounding from 10-year lows, according to a new survey.

The Edelman Trust Barometer found that at 75 percent, India recorded the highest level of trust in business of any of the six countries surveyed. China followed with 60 percent respondents saying they trust business to do what is right.

In the US, 48 percent of respondents trust businesses to do the right thing, up from 36 percent who said that in January, but still below 59 percent at the beginning of 2008. France saw an 11-point jump, from 30 percent to 41 percent

Trust in government is also on the ascent, with a 13-point jump in India from 42 percent to 55 percent and a 12-point increase in the US from 30 percent to 42 percent.

“Trust in business is on the way back, but we’re still in the middle of the game,” said Richard Edelman, president and chief executive of Edelman, a public relations company.

In India and China, “The private sector is perceived as enabling an economic growth that has led to healthier living standards. The survey numbers reflect a high degree of national pride in the accomplishments of business,” said Alan VanderMolen, president, Asia Pacific, Edelman.

In India and China, 81 percent and 96 percent of respondents respectively, say their country is headed in the right direction, compared with 47 percent of Americans and Germans, 37 percent of British, and 31 percent of French.

In another marked contrast to the West, nearly seven out of 10 respondents in India and China rate the reputation of large multinational corporations as good or excellent, compared with 30 percent of Americans, 29 percent of Germans, 24 percent of French, and 13 percent of British.

In India and China, banks are the No. 2 most trusted industry. In the US, trust in every industry experienced double-digit growth, except technology, which was already high but climbed another eight points, from 72 percent to 80 percent.

The survey, conducted from May 26 through July 3, was based on telephone surveys of 1,675 adults aged 25 to 64 in six countries. Respondents were screened to be college educated, have a household income in the top quartile for their country and to follow the news.

(Arun Kumar can be contacted at [email protected])