Marketing communications giant WPP Chief Executive Sir Martin Sorrell is optimistic on India and sees the current economic slowdown in the Indian economy as an opportunity rather than a hazard.

Speaking at an event on `How the world views India - opportunities and challenges, 2013 and beyond' in Bombay on Friday, Sorrell said that India was more important than other countries, but added that he was puzzled at the downbeat mood in India.

He said populous and rapidly growing economies like that of India would contribute to global growth, but added that Indians were rather depressed and lacked self confidence.

The marketing guru said that he was felt somewhat puzzled as to why Indian lacked self-confidence or why the economy was suffering uncertainty when a great number of Indian firms were performing well at home as well as abroad.

He stressed that he was still optimistic about growth prospects in India, and that he would see slowdown in Indian economy as an opportunity.

Speaking on the topic, he said, "I would see the slowdown in India as an opportunity not a threat. If you are not bullish on India, there are very few places in the world to be bullish about of significant size."

According to Sorrell, global companies have Rs11 lakh crore (around $2 trillion) of cash on their hands, but they are not spending the cash due to an overpowering sense of caution.