Getting down'n'desi in Davos
businesses took place at Davos. As has been the norm, India had strong representation, with multiple states putting up lounges to attract global investor attention. In fact, some lounges on the promenade gave one the impression of walking in Delhi on a chilly morning.
GoI's strong presence also helped in showcasing the country's potential to visitors to this Swiss ski resort.
India was certainly flavour of the week. Whether it was geopolitics, geo-economics or the two hot topics, sustainability and tech disruptions caused by generative AI, India scored well. PwC's 27th Annual Global CEO Survey launched at the forum highlighted how Indian CEOs are more buoyant about their growth prospects in 2024.
85% believe they would show revenue growth over the next 12 months, as opposed to 69% globally.
The survey also revealed that global CEOs are more hopeful of global GDP growth this year, with 38% indicating a possible improvement, as opposed to 18% last year. However, this confidence is fragile. 45% global CEOs expect their businesses not to survive in the next 10 years if they run them 'as is'.
For India, too, this number is high at 38%. This number goes up further for relatively smaller businesses.
This shows the need for business-model reinvention as leaders grapple with evolving disruptions stemming from technology, climate, supply chains and demographics. The higher confidence in India could be attributed to the progress being made on several fronts, including a few standouts:
Investments made in recent years in creating RE capacity have translated into significant outcomes, with India becoming the third-largest producer of RE in the world.
