'Bharat Optimistic': National Pride, Tech, Economy, Work-life Balance Key Factors Fuelling 'Mood' in 2024

Majority of citizens of Bharat have a positive outlook for 2024 with three key factors — national pride, technology and the economy — fuelling the optimism, according to a new survey titled ‘The Mood of Bharat: Optimism ka Mahaul’.

“Three factors were cumulatively top ranked sources of optimism for 85% of the respondents,” the report said, after 1,565 in-depth citizen interviews in the Hindi heartland through telephonic and internet surveys.

The survey by Bharat Lab — a think-tank created by the coming together of ad agency Rediffusion and Lucknow University — found that over 62 percent respondents exhibited “positive vibes”, 35 percent exuded a “confident balance”, and only 3 percent expressed “clear pessimism” for the year ahead.

The survey cited work-life balance as another “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% of Bharat-wasis,” the survey report said.

“Only 11% in Bharat harbour any fears about the state of the economy. Over 51% were positive about the Indian economy in 2024, while 37% took a neutral stand,” the report added.

Artificial Intelligence — the buzzword at the centre of global discussions — and elections are the top two “domains of interest for Bharat in 2024”, when the country will vote in the Lok Sabha polls in the summer.

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

The survey also found: “42.1% of the participants are optimistic about an upgrade in lifestyle in the year 2024. 20% are looking at travel as their big story for 2024.”

Interestingly, it pointed out, entrepreneurs hogged the limelight when respondents were asked about the heroes they thought would shine in 2024 (Bollywood was excluded, so was cricket). “Surprisingly, creators and scientists were at the back of the pack garnering 15.8% and 13.5% of the votes respectively.”

The report also said climate change topped the “List of Fears at 33.5%”. Wars and recession followed at 29.1%, even though a global recession was a concern for only 16.2% of Bharat citizens.

“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,” said Sandeep Goyal, co-chair of The Bharat Lab.

“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.

Divyanshu Bhadoria, lead for The Bharat Lab, said, “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.”

Respondents in the survey “covered the mix of cohorts across gender, profession and life stage”. “Men (56%) and women (44%), students (31%) and working professional (69%), business owners (38%) and salaried class (62%) – all were given a stage to express their mood about 2024,” the report mentioned.

Dr Sangeeta Sahu, Head of the Department of Business Management at Lucknow University, said: “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.”

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%, according to the survey. “When asked specifically about financial outlook, only 37% were optimistic,” the report said.

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

Finally, the report said, married workers were more optimistic than singles amongst working people. “Married individuals foresee better economic conditions (58.13%) compared to unmarried individuals (39.3%). Unmarried workers express 56.17% optimism for personal growth, while married workers are even more positive at 66.27%,” the report said.

Here are some key highlights of the survey:

1. Bharat is excited about the momentum and progress on the national front. The top 3 reasons for optimism were the “holy trinity of nation + technology + economy: 32.1% national progress, 25.4% advances in technology, 27.2% economic growth, 9.3% local infrastructure development, 5.8% national security”.
2. Good career prospects and positive personal life circumstances together make up the primary source of optimism for close to 76% of Bharat-wasis, while 12% also drew optimism from robust macroeconomic conditions and 4% said political climate was their number one driver of optimism.
3. Women of Bharat will be leading the surge in technology 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% of women chose tech as a top interest vis-à-vis 33.5% of men.
4. Over 54% Bharat is confident the rising economic tide will lift their personal boats. Over half of Bharat’s enthusiasts (54.68%) expect national economic progress to translate into personal advancement within 2024.
5. Participants’ heightened interest in AI and technology advancements at 22.3% exceed attention to elections at 20.08% and festivals at 16.07%, highlighting a clear societal inclination toward technological advancements.
6. Looking for a lifestyle upgrade, home improvement and the outdoors are new priorities for Bharat. At least 42.1% of the survey participants are optimistic about an upgrade in lifestyle in 2024, while 20% are looking to travel.
7. In 2024, the focus is on entrepreneurs with a subtle role for creators in the limelight. Entrepreneurs take the forefront with an impressive 26.7%, closely trailed by politicians at 22.7%. Sportspersons are anticipated at 19.8%, while creators and scientists command considerable attention at 15.8% and 13.5%, respectively.
8. Students of Bharat see tech as an enabler. At least 60.3% of students embrace the New Year with positivity, while 56.6% foresee personal growth. Technology leads the key source with a leading social focus in AI and technology, and tech enthusiasts at 26.2% illuminate a socially aware generation.
9. In Bharat, married people are happier than unmarried people. Unmarried workers express 56.17% optimism for personal growth, while married workers are even more positive at 66.27%. Married individuals foresee better economic conditions (58.13%) compared to unmarried workers (39.3%).
10. Bharat is serious about personal health, cautious about not being left behind. At least 44.4% of participants said health and safety rank highest and the most significant personal fear for 2024.