CEOs in India confident about growthStaff writer ▼ | March 30, 2015
CEOs in India continue to be more confident about the growth prospects of their business than their global peers.
Asia 18th Annual Global CEO Survey by PwC
According to PwC's 18th Annual Global CEO Survey (India report), 62% CEOs are very confident of their growth prospects in the short term (12 months) as compared to 49% last year. Further, 71% of CEOs are very confident of growth in the next three years.
The optimism in India may be more than just the euphoria following a majority growth-oriented government being voted to power at the Centre. This optimism is reflected in the fact that 84% of CEOs in India see more opportunities while only 41 % see more threats as against what they perceived three years ago.
The focal point of concern for CEOs in India continues to be inadequate basic infrastructure. The global CEO is more concerned about over-regulation, increasing tax burden, geopolitical uncertainty and government response to fiscal deficit and debt burden.
The only threat common to both global as well as CEOs in India is the unavailability of key skills. An interesting point, however, is that threat perception in China is much higher than in India across various parameters—from increasing tax burden to pandemics to supply chain disruption.
CEOs in India seem to be benefitting on both counts - developments within and outside the country. Our survey reflects this exuberance of CEOs about growth of their businesses as also of the economy.”
Fewer CEOs in India believe that trends such as changes in industry regulation, customer behaviour, competition, distribution channels or core technologies will disrupt their industry over the next five years.
While CEOs in China and Africa seem most sensitive to the disruptive nature of these trends, CEOs in India are below the global average across all these parameters. This raises a pertinent question, whether this indicates a lower degree of preparedness among CEOs in India. ■