Indian companies have emerged as most trusted by domestic population : Study

The Edelman Trust Barometer Special Report: The Geopolitical Business, which was released on the sidelines of WEF

AgenciesUpdated: Tuesday, May 24, 2022, 02:09 PM IST
article-image
In terms of domestic trust in companies headquartered in each market, India has topped the charts (89 percent, with a gain of 4 percent since January). /Repesentative image/ Representational Image | File photo

Indian companies have emerged as the most trusted by the domestic population, followed by China, Canada, the US, and the UK, according to a new study.

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. 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 no urgent pressure for companies to respond to the Russian invasion of Ukraine, the study showed.

Nearly half of respondents (47 percent) have bought or boycotted brands based on the parent company's response to the invasion of Ukraine; moreover, employees told us that if they believe their employer to be doing well in its response to the Ukraine invasion, they will be more loyal (79 percent) and will recommend that employer to others (80 percent).

In terms of domestic trust in companies headquartered in each market, India has topped the charts (89 percent, with a gain of 4 percent since January), followed by 82 percent in China and 70-76 percent 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 second place after China, as against third in January this year.

Globally, scientists have emerged as 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.

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Panvel: Last meeting of PMC nods proposals worth Rs 70 crores, five years term to end in July 8...

Panvel: Last meeting of PMC nods proposals worth Rs 70 crores, five years term to end in July 8...

Mumbai rains: Amid monsoon respite, city loses grip to winds

Mumbai rains: Amid monsoon respite, city loses grip to winds

Mumbai: MahaRERA brings in timeline for developers to update project details

Mumbai: MahaRERA brings in timeline for developers to update project details

Mumbai: City reports 540 new COVID-19 cases, 2 deaths

Mumbai: City reports 540 new COVID-19 cases, 2 deaths

Govind Pansare killing: Bombay HC asks Maharashtra CID for report on progress in probe

Govind Pansare killing: Bombay HC asks Maharashtra CID for report on progress in probe