India is expected to lead the global recovery rally as companies in the region are likely to witness significant improvement in their position as early as March next year, says a survey.
According to the Regus Business Tracker survey, Indian firms are expected to see signs of recovery by March 2010 — the most optimistic of the 15 countries surveyed, far surpassing the global average.
"The relatively positive prediction from Indian firms has to be tempered with an element of caution, with astute firms remaining tightly controlled in the beginning of next year," Regus' Country Head Madhusudan Thakur said.
The survey pointed out that developed countries like Germany and the US are likely to see economic recovery by August next year, while the UK would witness rebound by September 2010.
The survey said South Africa would witness commencement of significant economic recovery in May, while for Australia, Belgium and Canada it would be in June.
China, France and Mexico would see economic rebound in July, for the Netherlands it would be in August and for Spain it would be as late as October, the report added.
The findings of the survey indicate that companies would need to maintain their cost management strategies into the New Year and structure any major investments to catch the wave of mid-year global recovery.