Indian CEOs Foresee Economic Growth In The Next Fiscal Year

“According to the survey conducted by auditing firm PwC, most Indian Chief Executives believe it takes the economy to an unprecedented high and would continue to thrive in the coming months”.

Davos: The 27th annual global survey polled 4,702 chief executive officers (CEOs) in 105 countries and territories, including 79 in India, from October 2 to November 10, 2023. As high as 86 percent of CEOs in India — 30 percent higher than a year ago — are positive that the economy will thrive. 

In contrast with the comparison, only 44 percent of global CEOs believe that the economy with move in the top gear in the respective territories. The hype about the Indian economy is reaching all corners of the globe worldwide and reclaiming its fifth position destination for global CEOs after ranking in 2023.

On the first day of the World Economic Forum annual meeting in Davos, more than 62 percent of business leaders in India were confident about the growth of the company in the next 12 months on an annual basis only 37 percent of CEOs said the same.

All the CEOs in India are inflation and cyberattacks possess— a bigger threat to the cos in the next 12 months. As usual, more than 28 % of India predicted regarded as the cyberattacks a pure threat to 18 percent in 2023.

Cyberattacks are one of the biggest threats in the next 12 months. More than 20 percent of Indian CEOs regarded cyber attacks leads to the top threat compared to 18 percent in 2023.

The inflation hit a 15-month high at 7.44 percent in July 2023 before cooling down to 5.5 percent in November as stated by the Press Release by Pwc.

According to the CEO’s expertise global CEOs include customer satisfaction and employee engagement metrics in the long-term goal of the corporate strategy. More than 54 % of global CEOs include automation and digitalization goals in their long-term corporate strategy.

Things like a factor in gender representation and Greenhouse gas emission respectively in the annual bonus or long-term incentive plans as noted by the Survey.

More than one Indian company participated in the survey, more than 27 % have set non-zero commitment globally 22 % are in place 40 % are in the process of developing an articulation of commitments 29% with only 30% neither made and are in the process of making net-zero commitment globally 44 %.

At the sector level, energy, utilities, and resources will get you the most represented with made net-zero commitments. All the reinforcement helps in high-emitting industries.

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The Impact of Gen AI

(GenAI) is the next big thing and drew the attention of technopreneurs across the global with business more than 71 percent of India Leaders and increasing the efficiency of employees, while 70 percent believe this shall increase performance. They also believed it is likely to increase revenue (48 percent) and profitability (46 percent). 

On the impact of the growing use of GenAI, around 30 percent felt it would lead to a shrinking of jobs, but there was a broader acknowledgment of its potential— to create job opportunities, with 48 percent saying it would have little or no impact on headcount and 13 percent seeing an increase.

Various business leaders help navigate the uncertainty while leading the way and driving not economic growth but societal change in the last 25 years of the Global CEO survey.

Business leaders are all about making changes and increasingly will come to the fore while leaders and with efforts for creating lasting value in the building trust and the communities and stakeholders they serve.

Collaboration between all the stakeholders- organizations, individuals, and government will enhance the meaningful in the only prospect but also the prosperity and vitality of the society as a whole.

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