Doing Business with India is the fourth top choice of European business houses

05 June 2008: Ernst & Young’s fifth annual European attractiveness survey has ranked India as the fourth most attractive business location for European business houses. 30 per cent decision-makers among the 834 who responded to the survey, found India attaining more investor confidence and developing as a more preferred business destination compared to the US and Russia.

China topped the list with 47 per cent votes, followed by Central Europe (42 per cent) and Western Europe (33 per cent). The US and Russia were preferred by 21 per cent. Termed as "an open world", the European attractiveness survey aimed at identifying the prospects of different business locations and the standards expected by the respondents.

On the whole, 47 per cent of the business leaders plan to develop activities in Europe, although 16 per cent say they will move all or a part of their projects outside the region.

22 per cent respondents voted India as the second most preferred global location for relocating projects. China was the most preferred destination, with 36 per cent votes.

21 per cent investors voted India as one of the top three most innovative countries ahead of UK, France, Finland and Sweden.

The most innovative countries were the US with 50 per cent votes and China with 34 per cent votes, followed by Germany and Japan with 31 per cent and 29 per cent respectively.

With the high ranking of China, Japan and India, the survey places Asia at the top of the most preferred geographical locations because of its level of innovation.

“How to” invest is becoming more important than “how much” for investors considering sustainable location options. Survey respondents pay more attention to political and legal stability (54%) and telecoms infrastructure (51%) than labor costs (47%).

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