Indian ceos expect economic growth 57% of CEOs believe the nation’s Indian CEOs expect economic growth will improve over the next 12 months: PwC survey. While cost cuts are high on the priority list globally, 85% of India CEOs do not plan to reduce headcount, and 96% do not intend to reduce compensation – demonstrating their resolve to retain talent.
Indian CEOs are more positive about their country’s prospects than their global counterparts, with 57% expressing positivity compared to 29% globally, according to research among more than 4,000 CEOs from around the world.
PwC’s Global Survey of Chief Executives, which has been running for more than a quarter of a century, found that nearly 80% of chief executives in India anticipate a decline in global economic growth next year, marking the most negative outlook. in the last 12 years. . However, the majority of India’s CEOs indian ceos expect economic growth (57%) are hopeful about the country’s own economic growth prospects over the next 12 months.
This is in stark contrast to the views of CEOs in the region as a whole and globally, with “only” 37% and 29% of CEOs in Asia Pacific and globally (29%) optimistic about the economic growth prospects of their own country.
The survey also found that while for the most part CEOs around the world are at least as optimistic about the outlook for economic growth in 2022 as they were last year, the optimism of CEOs in India, versus the 88% of last year, stands out at 94%.
“While Omicron has cast a shadow and CEOs are focuse on the health and safety of their employees right now, the confidence and optimism of CEOs over the last year is testament to the resilience of Indian companies. Maybe due to the futuristic legwork done during difficult times, 97% of India’s CEOs are confident in their own company’s revenue growth prospects not only in the near term but also in the next three years,” Sanjeev Krishan, indian ceos expect economic growth and president of PwC in India, said.
While there is optimism, concerns remain about some clear threats to Indian CEOs. Last year, 70% of Indian CEOs saw the pandemic as a major threat to growth, while 62% saw cyber threats as an impediment to growth. This year, 15% of Indian CEOs fear that cyber risks will hamper their company’s ability to raise capital. CEOs in India also agree that cyber risks could cause severe disruption to revenue, with 64% of respondents fearing that a breach could hamper sales of products or services.
In addition to business interruptions, 47% of CEOs believe that cyber threats could impede their ability to develop products and services.
“Despite signs of a global economic slowdown, continue high inflation and the ripple effect of the conflict in europe, there is optimism among India’s CEOs about the country’s economic growth,” said Sanjeev Krishan, president of PwC India.
The report, which surveyed a total of 4,410 CEOs from 105 countries and territories, including 68 from India, identified inflation (35%), macroeconomic volatility (28%) and geopolitical conflicts (25%) as the biggest threats to indian ceos expect economic growth.
Climate change is gaining prominence as a concern for Indian CEOs over the next five years, with 31% saying they believe their ye technical companies will be extremely/highly exposed to the threat.
Inflation and climate change stand out as key threats in the next five years
To counter these threats, CEOs are leading all kinds of actions. Two-thirds (67%) are taking steps to reduce the impact of geopolitical conflicts on their supply chains. Furthermore, around 60% of Indian companies are currently developing new products or processes that are environmentally sustainable. Meanwhile, a vast majority of Indian CEOs, 85%, have no intention of reducing their workforce and 96% do not plan to decrease employee compensation.
Particularly in Asia Pacific, mature economies like Australia and Japan are more concerned about cyber risk, while geopolitical conflict is the main threat for China, Hong Kong and South Korea.
According to the PwC survey, 41% of CEOs in India believe that their companies will not be financially sustainable ten years from now if they stick to their current business models. 62% of CEOs, in particular, believe that changing customer demand will greatly or greatly impact their industry’s profitability over the next ten years, while 54% are concerned about changes in the regulations.
PwC surveyed 4,410 CEOs in October and November of 2022. The global and regional figures in the report are weight proportionately to country or regional nominal GDP to ensure that CEOs’ views are illustrative across all major regions. The industry and country-level rajkotupdates.news indian ceos expect economic growth data are based on unweighted data from the full sample of 4,410 CEOs including 68 from India. Interviews were conducted with CEOs from three global regions (North America, Western Europe and Asia-Pacific).
The survey, conducted between October and November 2022, polled 4,410 CEOs in 105 countries and territories, including 68 from India. The study said only 37% of Asia Pacific CEOs and 29% of global CEOs expect indian ceos expect economic growth to improve in their countries or regions over the next 12 months.
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