India ranks among the top countries for investment plans by CEOs and is also recognized for their high confidence in the country’s economic growth, according to a global survey released on Monday.
PwC Annual CEO Survey Highlights
PwC unveiled its annual CEO survey during the opening evening of the World Economic Forum Annual Meeting, highlighting that nearly 9 out of 10 Indian CEOs remain optimistic about economic growth.
They are also planning to increase workforce headcounts and advance AI adoption.
The survey found India among the top five destinations for global CEOs’ investment plans, alongside the US, the UK, Germany, and Mainland China.
Over 51% of Indian CEOs expressed confidence in Generative AI’s positive impact on profitability, while a third noted increased revenues from climate-friendly investments over the past five years.
Product and service innovation has been a major focus, with more than 40% of Indian CEOs identifying it as their most common reinvention action in the last five years.
Four out of ten CEOs, both in India and globally, revealed that their companies have entered at least one new sector or industry in the last five years.
Polling over 4,700 CEOs across 109 countries, including more than 75 from India, the survey showed that 87% of Indian CEOs are optimistic about the country’s economic growth, significantly higher than the global average of 57%.
Additionally, 74% of Indian CEOs are highly confident in their companies’ revenue growth over the next three years.
PwC attributed this optimism to India’s strong economic growth, improved ease of doing business, infrastructural advancements, and a young, skilled workforce, which continue to attract investors.
Survey Highlights Challenges Faced By Indian CEOs
However, the survey also highlighted certain challenges. Indian CEOs identified technological disruption as a primary concern, followed by macroeconomic volatility, inflation, and a lack of skilled labor.
Companies identified disruptive technology as a key factor affecting their economic viability.
Sanjeev Krishan, Chairperson of PwC India, stated, “For CEOs today, the challenge is to envision the ecosystem in which their company will operate in the future. This includes thinking through the impacts of megatrends like climate change and AI, evolving customer needs, shifting value pools, and the roles that their company will play.”
Also Read: WEF President Borge Brende Predicts India’s Growth Potential At Davos
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