- India remains among the top five territories along with US, UK, Germany and Chinese Mainland for global CEOs’ investment plans
Davos:
As global leaders gather for the World Economic Forum (WEF) meeting in Davos to discuss “Collaboration in the Intelligent Age,” PwC’s 28th Annual Global CEO Survey: India Perspective reveals India’s pivotal role in shaping the future of innovation, sustainability, and reinvention.
The survey, which included responses from more than 4,700 CEOs across 109 countries, with over 75 participants from India, highlights the country’s robust optimism. A staggering 87% of India’s CEOs expressed confidence in the nation’s economic growth, significantly outpacing the global average of 57%. Furthermore, 74% of Indian CEOs are highly optimistic about their company’s revenue growth over the next three years.
India’s Economic Edge
India’s economic resilience, improved ease of doing business, infrastructural advancements, and a young, skilled workforce continue to attract global investors. However, the optimism is accompanied by challenges. Technological disruption tops the list of concerns for Indian CEOs, followed by macroeconomic volatility, inflation, and a lack of skilled labor.
Sanjeev Krishan, Chairperson of PwC India, emphasized the importance of adapting to megatrends such as climate change and AI. “India CEOs should embrace GenAI’s potential while also taking steps to manage risks. Responsible AI practices can mitigate many issues and are most effective when baked into GenAI strategy from the start.”
Generative AI: Promise and Caution
Generative AI (GenAI) has shown significant potential, with 51% of Indian CEOs viewing it positively for profitability. However, trust remains a hurdle, as only 33% have high confidence in its integration into business processes. Despite this, optimism about growth is driving hiring, with 68% of Indian CEOs planning to expand their workforce in the next year, compared to 42% globally.
Sustainability Gains Momentum
Indian businesses are making strides in sustainability, with over a third of CEOs reporting revenue increases from climate-friendly investments over the past five years. These initiatives include transitioning to energy-efficient operations, developing greener products, and implementing emission-reducing technologies.
Interestingly, 58% of Indian CEOs tie a portion of their personal incentives to sustainability metrics, slightly higher than the global average. However, converting such investments into consistent revenue streams remains a work in progress.
Reinventing for the Future
Reinvention has emerged as a key strategy, with 40% of Indian CEOs venturing into new industries over the past five years. Half of them reported generating 1–20% of their revenue from these ventures. The most common approaches include developing innovative products, adopting direct-to-consumer sales models, and acquiring new customer bases. Collaboration with other organizations has also been a preferred strategy.
Global Leadership at the Crossroads
As the global business ecosystem evolves, India stands out as a beacon of optimism and innovation. With leaders focusing on sustainability, technological advancements, and intelligent reinvention, the country is poised to shape the global narrative in the years to come.
