Indian Millennials Upbeat About Economic Outlook But The World Turns Grim

Millennials across the world are less optimistic about the social and political outlook. But that’s in contrast to India.

Nearly half of the millennials—or those born between January 1983 and December 1994—said they don’t trust political leaders as a source of reliable and accurate information, according to a Deloitte report titled ‘Deloitte Millennial Survey 2019’. Seven in 10 millennials said government leaders focus on their own agendas over constituents’ interests, while 63 percent said leaders have no ambition beyond retaining or increasing their power, according to the report.

Less than a quarter of the total 13,416 millennials surveyed by Deloitte across 42 countries envisaged better social and political outlook—a drop from 33 percent last year. The positive economic sentiment among millennials, too, is at its lowest in six years. Only 26 percent respondents, according to the survey, expected the economic situation in their countries to improve in the coming year. That’s lower than 45 percent two years ago.

Still, young Indians—a sample size of 300—expect the country’s economic, social, political, environmental and personal conditions to improve in the coming 12 months.

That comes at a time India’s unemployment reportedly touched a 45-year high, industrial productivity fell and food prices rose. India’s score of 65 on the ‘MillZ Mood Monitor’ scale by Deloitte pointed to an overall optimism among citizens. The global average score was 39, where zero indicated absolute pessimism and 100 absolute optimism.

While 74 percent of Indian millennials said changing nature of work may make it tougher to find or change jobs, according to the survey, they are confident of possessing all the skills and knowledge set to be required in the future.

Impact Of Social Media

At a time social media companies like Facebook, WhatsApp and Twitter are taking measures to curb the spread of fake news in the subcontinent, Indian millennials said such platforms do more harm than good.

Millennials across the world are sensitive about personal data with 79 percent concerned about becoming victims of online fraud, according to the report.

Altered Aspirations

Priorities of every generation are shaped by circumstances. Travel and seeing the world top the millennials’ aspirations globally, followed by earning higher salaries, according to the report.

While young Indians want to make a positive impact on the society, traditional ambitions such as buying homes and having children have taken a backseat, it said.

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