December 9, 2024, Jastra Kranjec.
While the United States boasts the world’s largest and most valuable companies in technology, finance, and healthcare, Japan shines as a leader in automotive, electronics, and industrial manufacturing, and Germany is known for engineering, automotive, and industrial manufacturing excellence, none of these countries come close to India when it comes to business trust. According to data presented by Stocklytics.com, India stands unmatched, leading the world in business trust and surpassing the United States and Europe by an impressive 30 percent.
Developed and High-Income Countries show Lower Levels of Trust in Business
Thanks to transformative initiatives like Make in India, the rapid adoption of digital technologies, a booming start-up ecosystem, a growing middle class, and a young, tech-savvy workforce, India has emerged as a global leader in business trust. With stable economic growth and strengthening global partnerships, the country has positioned itself as a trusted partner in international business. Today, India leads the world in business trust, outpacing even the United States, China, and Europe.
According to the latest edition of the Edelman Trust Barometer Global Report, an impressive 82 percent of Indians trust their national businesses, placing the country at the top of the global rankings. China follows closely, with 81 percent of respondents saying the same, while Saudi Arabia ranked third with a 78 percent share. The survey showed all three countries far outpaced business trust levels in the United States and most European countries.
In comparison, only 53 percent of Americans said they trusted US companies and corporations, the same as in France. Developed nations like Germany and Japan saw trust levels dip even further, with only 50 percent of respondents expressing confidence in their businesses. Canada was the only country somewhat closer to India, China, and Saudi Arabia, with 57 percent of respondents trusting its businesses and companies. Overall, developed or high-income countries showed lower levels of trust in business.
Interestingly, while Indians, Chinese and Saudi Arabians self-reported high domestic trust in their business, international respondents were much more skeptical. According to the survey, only 35 percent of people from 25 countries expressed trust in businesses headquartered in the three countries.
Britons and South Koreans show Strikingly Low Trust in their Businesses
Although developed and high-income countries generally have lower business trust levels, the United Kingdom and South Korea stand out for their particularly striking figures.
According to the survey, only 48 percent of Britons expressed trust in their country’s businesses, seven percent lower than in the United States and 34 percent less than in India. South Korea was at the back of the list, with a 45 percent share of trustful respondents, the lowest figure among all surveyed countries.
Both countries fall significantly below the global average of 59 percent in 2023, which dropped from 62 percent the previous year, signaling a broader decline in business trust worldwide.
Jastra is an editor, writer, and PR specialist with years of experience in news, research, and report writing. Over the years, she has covered different topics and markets, including social media, digital content, the creator economy and the entertainment industry
