One of India's big four firms, PwC, recently released the findings from its 26th annual global CEO survey, which included 4,410 CEOs from 105 countries and territories. This included 68 CEOs?from India.
The outlook for 2023 seems mixed among Indian CEOs; let's have a look at what the survey findings indicate.
Amid?recession?fears, high interest rates, inflationary pressure, and geopolitical tensions, about 78% of Indian CEOs, as opposed to 73% of global CEOs, foresee a decline in global economic growth over the next 12 months.
The 26th Annual Global CEO?Survey?of PwC reveals these findings regarding Indian CEOs:
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1.67% of India's CEOs are adjusting supply chains to mitigate exposure to geopolitical conflict.
2.60% of Indian companies are currently innovating new, climate-friendly products or processes.
Operating costs are being reduced or have already been reduced by 3.9 percent of Indian CEOs.
4.57% of India's CEOs are optimistic about India’s economic growth over the next 12 months.
Signaling an optimistic approach towards their employees,?85% of Indian CEOs do not plan to reduce the size of their workforce, while 96% do not plan to reduce compensation (salaries). The select measures outlined above indicate that neither uncertainty nor anxiety cloud the view from the top.?
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India's CEOs?are divided, with 32% saying?attrition?rates?will continue to increase slightly, moderately, and significantly, and 34% holding that there will be no change. But this may be a bigger concern than is now being felt.??
While 52% of global CEOs see a shortage of labour and skills as their next biggest concern, 53% of Indian CEOs are more worried about technology disruptors such as AI and blockchain, and 49% are worried about supply chain disruption.
India's CEOs are cognizant of the undeniable linkages between profitability and sustainability, between technological disruption and innovation, between a strong balance sheet and the need for investments, and between business reinvention and a talented workforce.?
About 67% of India’s population is in the working age group of 15–64, and these numbers are expected to grow for some years, according to World Bank data, the survey mentioned.
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