Indian Chief Executives are more confident about their companies’ growth prospects than their overseas peers and the country has been featured among the top five growth markets globally, says a PwC report.
According to PwC’s 19th Annual Global CEO Survey (India report), 64 percent of the respondents are very confident of their growth prospects in the next 12 months as compared to 35 percent globally.
Moreover, India overtook Brazil in the global CEOs’ ranking of growth markets, jumping up to the fifth place this year from sixth in 2015.
“The confidence reposed by Indian CEOs on growth is quite encouraging, given the backdrop of market and currency volatility, and the transformation in the expectations of consumers, investors and employees,” PwC India Chairman Deepak Kapoor said.
The survey noted that the CEOs’ perceptions of opportunities are “tempered” in the last one year.
CEOs in India see more growth opportunities for their companies today than they did three years ago. However, the number of respondents holding this view has dropped from 84 per cent last year to 75 percent this year.
Meanwhile, CEOs see the speed of technological change as a top new threat; 79 percent of them are concerned about the influence that speed of technological change will have on their organisation’s growth.
The report noted that CEOs are maintaining a focus on people while planning for automation. Around 70 percent of the CEOs plan to increase their headcount in the next 12 months, and 89 percent are focusing on workforce rights and well-being.