Business confidence in India has taken an upward bounce since the new government of Prime Minister Narendra Modi took office on May 26. A survey by the Confederation of Indian Industry found that confidence rose to 53.7 in the April-to-June quarter, from 49.9 in the previous quarter. On the survey's index, the number 50 is the dividing line between positive and weak business confidence. The survey was based on responses from the manufacturing and service sectors. Respondents believe Modi's economic policies will curb inflation and attract foreign investment.
