HYDERABAD:India slipped to fourth position on the business optimism index from first, according to Grant Thornton’s International Business Report. While the country stood at numero uno position during the fourth quarter of 2014, it, however, fell to 4th in Q2, 2015 despite the government enacting the much-needed reforms to boost growth. The drop in optimism can be attributed to the slow progress on easing regulatory shackles and decision-making. “It is a sign that Indian businesses’ enthusiasm has fallen after having a lot of optimism based on expectations of rapid liberalisation and reforms by the new government has had a reality check. There is a clear realisation that while the new government is undertaking reforms, the pace is slower given the political quagmires that it faces,” said Harish HV, Partner - India Leadership team, Grant Thornton India LLP. He added that GST, tax reforms, ease of doing business were areas, where there was movement and intent, but was not followed by content in the form of delivery.