Rajkotupdates.news : Indian CEOs expect economic growth

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Rajkotupdates.news : Indian CEOs expect growth in their economy. According to the PwC’s 25th annual Global CEO Survey, Indian CEOs are optimistic about the prospects for their country’s economy despite ongoing uncertainty caused by Covid-19 virus.

CEOs from all over the world tend to be as positive regarding the economic outlook for 2022 the same way the 2021 forecast was with India’s CEO optimism being 94 % (up from 88 % in 2021).

While the Covid-19 virus remains a mystery Indian business leaders are optimistic about India’s economic prospects. The 25th annual PwC CEO survey found that almost the majority of Indian Chief Executives (99 percent) believe that economic growth will occur in their nation to grow in the coming years.

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However 94 percent of Indian CEOs anticipate global economic growth to increase in the coming year.

Between October 2021 and November 2021 446 CEOs from 89 nations and territories took part in the survey. The report also includes commentary from 77 Indian business leaders.

The optimism and confidence of CEOs over the last year is an indication of the strength of Indian businesses, as per Sanjeev Krishnan, Chairman, PwC India. “While Omicron has cast a shadow and CEOs are now focusing on the health and safety of their people,” he added. Businesses in India have been able expand due to the determination and optimism that the majority of India’s top business executives have faced the challenges presented by the epidemic. A majority Indian business executives (97 percent) are confident regarding their business’s growth potential and in the short period and for the three years to come. This optimism could be due to the strategic plans which were laid during the difficult economic times.

The concerns about unemployment, GDP and inflation fluctuations have been expressed by executives across all over the world. The inability of selling products and services is made more difficult by health-related risks (89 percent) as well as geopolitical tensions (77 percent) and cyber threats (77 percent) According to Indian chief executive officers.

Additionally, Sanjeev Krishnan stated that the company’s leaders have to achieve the best results following a challenging year. They need to take preventative measures against any potential threats in the realms of cybersecurity, technology as well as human resources and health.

In discussing the planet we’ll leave to the next generations, he explained, “Given the highly uncertain, volatile environment we are in, it becomes necessary to focus on long-term challenges and issues around climate change and social inequality.”

Even though ESG is getting more focus business indicators remain the main drivers of strategy in the world as well as in India. The long-term plans of the majority of chief executives include goals related to customer satisfaction involvement of employees, customer satisfaction, and other outcomes that are not financial such as automation or digitization.

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The survey revealed that the majority of Indian CEOs 81 percent are more concerned about employee engagement, while 75 percent are more concerned with satisfaction with their customers than their global counterparts.

Even though only 54% CEOs around the world integrate digitization and automation goals in their business’s plans In India this number rises to 78%..

15 percent of Indian CEOs have expressed their concern about cyber security threats, which could hinder their companies to get investors this year.

64 percent of Indian CEOs who were surveyed believed that an incident involving data breaches could cause a negative impact on sales of products or services and, consequently, they’re in agreement that cyber-related risks are a major threat to companies in the nation. The survey revealed that 47 percent of CEOs are worried that cyber-related risks could hinder their companies from creating new products or services as well as disrupting their business.

Additionally it was discovered that 27% of the participating Indian companies have signed an unconstrained commitment (22 percent globally) 40 percent are in the process formulating and making their commitments clear (29 percent globally) however just 30% have not taken any action or are currently working on any commitment of net zero (globally 44 percent).

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