86% of CEOs believe India's economic growth will improve over the next 12 months: PwC’s Annual Global CEO Survey
global CEOs, marking a notable jump from its previous ranking of ninth place in 2023, according to PwC’s 27th Annual Global CEO Survey, which polled 4,702 CEOs in 105 countries and territories, including 79 from India.
As per the study, 70% of CEOs in India express high confidence in their company's potential for revenue growth in the coming three years. Furthermore, an overwhelming 86% of these CEOs believe that the Indian economy will witness improvement in the next 12 months.
When asked how confident they were about their company's growth in the next year, a significant 62% of CEOs in India said they were «extremely or very confident.» In contrast, only 37% of CEOs worldwide expressed the same degree of assurance.
Sanjeev Krishan, Chairperson, PwC in India, said, “Despite continuing global headwinds, the Indian economy has remained resilient with expectations of a strong growth trajectory in the near future. While India CEOs will indeed play a big role in the country becoming a five-trillion-dollar economy, they will also need to reinvent their businesses and work culture to ensure long-term sustainable success.”
While the majority of CEOs in India are optimistic about the future, a significant number of them are worried about the necessity of embracing change in order to stay up with emerging trends.
The study said that while 59% of CEOs in India, compared to 53% of CEOs worldwide, said that their businesses would continue to be profitable for over ten years if they followed their current trajectory, 38% were of the belief that this would only be the case for less than a decade.
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