Bharat welcomes 2024 with optimistic arms riding on holy trinity of national pride, tech and economy

A new survey titled ‘The Mood of Bharat: Optimism ka Mahaul’ has found that 85 per cent of citizens of Bharat have a positive outlook for 2024 with three key factors — national pride, technology and the economy.

The report is based on in-depth interviews of 1,565 people in the Hindi heartland through telephonic and internet surveys.

The survey carried out by Bharat Lab, a think-tank created by the coming together of ad agency Rediffusion and Lucknow University, found that over 62 per cent respondents radiated “positive vibes”, 35 per cent exuded a “confident balance”, and merely 3 per cent expressed “clear pessimism” for 2024.

Work-life balance

The Mood of Bharat 2024 report cited work-life balance as a “key driver of optimism (something India — as opposed to Bharat — seems to struggle with)”.

“Good career prospects and positive personal life circumstances together make up the primary source of optimism for close to 76 per cent of Bharat-wasis,” the report said.

Bharat positive about Indian economy

The survey report further said more than 51 per cent were positive about the state of the economy in 2024, while just 11 per cent in the country harbour any fears about the Indian economy. “37 per cent took a neutral stand,” it added.

Domains of interest

The country will face crucial 2024 Lok Sabha polls this summer. The survey report said elections and Artificial Intelligence (AI) are the top two “domains of interest for Bharat in 2024.”

The report said: “22.3 per cent respondents expressed interest in AI and other technology innovations, and 20.08 per cent registered elections 20.08 per cent as the key domains they are keen to follow in 2024.”

Women lead surge in tech & gadgets

The survey said women will lead the surge in tech and gadgets in 2024. “Of the respondents who chose tech and gadgets as their top interest in 2024, women outnumbered men 2:1. At least 66.5 per cent of women chose tech as top interest vis-à-vis 33.5 per cent of men,” it added.

“With women showing double the interest than men in technology, I wonder how many mobile, laptop and even tech start-ups today are developing products and communications with women as their lead consumer,” Dr. Sangeeta Sahu, Head of the Department of Business Management, Lucknow University said.

Upgrade in lifestyle

The Mood of Bharat report also found that 42.1 per cent of the participants are optimistic about an upgrade in lifestyle this year, while 20 per cent are looking at travel as their big story.

Entrepreneurs steal the spotlight

The respondents were asked about heroes who they think will shine in 2024 (Bollywood and cricket were excluded).

“Entrepreneurs claimed the spotlight with an impressive with 26.7 per cent of the nods. Surprisingly, creators and scientists were at the back of the pack garnering 15.8 per cent and 13.5 per cent of the votes respectively,” the survey report said.

Fears for the planet of tomorrow

During the survey, the respondents were asked about top concerns and climate change topped the list of fears at 33.5 per cent. “Wars and recession followed at 29.1 per cent, even though a global recession was a concern for only 16.2 per cent of Bharat citizens.”

Married workers more optimistic than single folks

The report also said during the survey, it was found out that married individuals foresee better economic conditions (58.13 per cent) compared to unmarried individuals (39.3 per cent). Unmarried workers express 56.17 per cent optimism for personal growth, while married workers are even more positive at 66.27 per cent.

“As always, Bharat surprises us with its readiness for change. The fact that entrepreneurs emerge as bigger heroes than creators hints to a larger shift in Bharat from content consumer to commerce creator,” Divyanshu Bhadoria, lead for The Bharat Lab, said.

Meanwhile, Sandeep Goyal, co-chair of The Bharat Lab, said: “The report documents the perspective of the citizen of Bharat going into 2024 including, but not restricted to their overall sentiment, sources of optimism, areas of concerns, expectations and watch-outs.”

“The overall optimism should give confidence to businesses like FMCG, auto, tech, finance, travel and more. Bharat is a great source of growth, and diving into cohorts will help them unlock new sources of growth,” he added.

Owners of small and medium-sized enterprises (SME) — shopkeepers, traders and small business owners — were the most cautious, with highest pessimism for 2024 at 28.8 per cent, according to the survey. “When asked specifically about financial outlook, only 37 per cent were optimistic,” the report said.

On the other hand, “81.3 per cent of the Government and public sector employees expressed a positive overall outlook for 2024, and 79.06 per cent of the government and PSU employees were optimistic about personal growth in 2024,” it added.

The sample covered the mix of cohorts across gender, profession and life stage. Men (56 per cent) and women (44 per cent), students (31 per cent) and working professional (69 per cent), business owners (38 per cent) and salaried class (62 per cent) – all were given a stage to express their mood about 2024.