Rajkotupdates.news: Indian CEOs Expect Economic Growth; According to PwC’s 25th Annual Global CEO Survey (PwC), Indian CEOs are optimistic about the future economic prospects of their country, despite the uncertainty caused by Covid-19.
Global CEOs are generally just as optimistic about the prospects for economic growth in 2022 than they were in 2021. India’s CEO optimism is at 94% (up from 88% in 2021).
Even though the Covid-19 pandemic remains a big unknown, India’s top business leaders are optimistic about the country’s economic future. PwC’s 25th annual global CEO poll revealed that 99% of Indian CEOs expect their country’s economic growth to increase in the next year.
94% of Indian CEOs anticipate that global economic growth will accelerate in the coming year.
The poll was conducted between October 2021 to November 2021. It included 4,446 CEOs representing 89 countries and territories. The poll also includes commentary by 77 Indian business leaders.
According to Sanjeev Krishnan (Chairman, PwC India), the confidence and optimism displayed by Indian CEOs over the past year is a testament to the resilience of Indian companies. He said that Omicron had cast a shadow, and now CEOs are focusing on safety and health of their employees. India’s business elite has shown tenacity, optimism and perseverance in overcoming the challenges presented by the pandemic. This has allowed companies to continue expanding. 97% of Indian business leaders are optimistic about their company’s future revenue growth prospects. This is both short-term and for the next three years. This optimism could be due to the fact that strategic foundations were built during difficult economic times.
CEOs from all walks of the business share concerns about inflation, GDP, and unemployment. According to Indian chief executives, the inability to sell products or services is affected by geopolitical turmoil (77%) and health risks (89%).
Sanjeev Krishnan also stated that leaders of companies are under pressure to deliver top results after a difficult year. They need to take preventative steps against possible threats in the areas technology, cyber security and human resources.
He said that the future planet will be left to our descendants because of the volatile and uncertain environment in which we live. Therefore, we need to pay attention to long-term issues and climate change.
ESG has been getting more attention but business indicators remain the main drivers of strategy in India and worldwide. Most chief executive officers have long-term goals that are tied to customer happiness, employee participation, and other non-financial outcomes like digitization or automation.
According to the survey, 81% of Indian CEOs are more concerned about employee engagement than their counterparts worldwide. 75% are more concerned about customer satisfaction.
Even though 54% of global CEOs include automation and digitization goals in their company’s strategic plan, that number rises to 78% in India.
15% of Indian CEOs expressed concern about cyber threats making it more difficult for their company this year to attract investors.
Sixty-four per cent of Indian CEOs surveyed believe that a data breach could have a negative effect on sales of products or services. Therefore, they agree that cyber threats pose a serious threat for Indian businesses. According to 47% of Indian CEOs, cyber risks could prevent them from creating new products or disrupting their business.
It was also found that 27% have made a net zero commitment (22% globally), 40% have created and are articulating their commitments (29% worldwide), and 30% have not made or are currently making any net zero commitment (globally 44%).
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