Even after facing challenges due to uncertain economic growth and rapid technological changes, 71% of company CEOs in India continue to be confident of their organisation’s growth in next 12 months, according to a survey.
According to PwC’s 20th CEO survey (India report), 71% of respondents are very confident of their company’s prospects for revenue growth over the next 12 months.
India’s CEOs are far more optimistic with respect to growth prospects than their global counterparts (38%), China (35%) and Brazil (57%), it added.
The main drivers for this optimistic sentiments among Indian CEOs are strong growth fundamentals such as favourable demographic profile, rising income levels and urbanisation, the survey said.
The other special trigger to this optimism are the upcoming policy reforms to be implemented in the near-term and increase in Foreign Direct Investment (FDI), it said.
The survey was conducted among 1,379 CEOs in 79 countries, including 106 in India.
According to it, the main challenges that the companies face are availability of key skills, uncertain economic growth, speed of technological change, inadequate basic infrastructure and over-regulation.
“It is encouraging to see that CEOs continue to be confident of their revenue growth prospects given the volatility of the dynamic business environment in India. This shows that a transformational agenda is on the cards.
Though disruptive innovation is a priority for CEOs in India, they are in constant need for talent with unique skill sets that could be leveraged in today’s highly automated world,” PwC India Chairman Shyamal Mukherjee said.