India on top for trust in domestic companies
GS Paper - 2 (Reports)
Indian companies have emerged as the most trusted by the domestic population, followed by China, Canada, the US and the UK. The Edelman Trust Barometer Special Report: The Geopolitical Business, which was released on the sidelines of the World Economic Forum Annual Meeting, also showed that geopolitics is now a litmus test for trust in business.
- The corporate exit from Russia has set a precedent, and the expectations for action at times of crisis are ever increasing. In fact, fewer than 6 in 10 respondents now say geopolitics is a business priority.
- At a time when the world has been challenged by geopolitical conflict, economic uncertainty, climate threats and social inequalities, there is now urgent pressure for companies to respond to the Russian invasion of Ukraine.
- In terms of domestic trust in companies headquartered in each market, India has topped the charts (89 per cent, with a gain of 4 per cent since January), followed by 82 per cent in China and 70-76 per cent in Canada, the US and the UK.
- On the overall trust index, taking into account trust in NGOs, business, government and media, India is now placed at the second place after China, as against third in January this year.
- Globally, scientists have emerged the most trusted category, while the United Nations is the only trusted global institution.
- The survey was conducted in 14 countries with 14,000 respondents between April and May.