62% Indian CEOs expect favourable global economic outlook: Report

The expected outlook is for the next 3-5 years

February 24, 2023

60% of Indian Chief Executive Officers have plans to increase their spending

33% aim to maintain current levels of expenditure in anticipation of a projected upswing

75% of Indian CEOs aspire to surpass or keep pace with market growth

Half of the CEOs surveyed plan to expand into new areas, and 30% think they will grow faster than the market as a whole

Around 62% of Indian CEOs expect a stable or favourable global economic outlook over the next three to five years, despite current obstacles and gloomy macroeconomic forecasts for 2023, according to a study by Arthur D. Little (ADL), a global management consulting firm.

The study found that 60% of Indian CEOs have plans to increase their spending, while 33% aim to maintain current levels of expenditure in anticipation of a projected upswing. Additionally, 75% of Indian CEOs aspire to surpass or keep pace with market growth. 

Media reports said that the study surveyed 250 CEOs from companies with annual revenue of at least $1 billion, including 21 CEOs from Indian companies.

Exports said that despite global macroeconomic challenges, half of the CEOs surveyed plan to expand into new areas, and 30% think they will grow faster than the market as a whole. Additionally, 40% of CEOs intend to increase their spending, and 55% plan to maintain current expenditure levels.

The report said that technological innovation is the most critical factor in growth. Additionally, 83% of Indian CEOs in the last three years focused on digital transformation as their primary area of interest, and 40% will continue to prioritize digital transformation as disruptive technology like sustainability, ML, AI, robotics, and automation are the new priority.

Interestingly, 80% of CEOs believe that prioritizing Environmental, Social, and Governance (ESG) initiatives are a way to gain a competitive edge, and 41% of CEOs even place ESG above all other business initiatives in terms of priority. The report shows that CEOs are trying to achieve true ambidexterity by combining innovation with a strong focus on cost efficiency.

Source: Economic Times

Recent Articles

GCCs power India’s office leasing market in FY25 with record absorption

July 4, 2025

Global capability centres (GCCs) remained the dominant force in India’s …

Read More

India’s services sector posts fastest growth in ten months on strong demand and easing costs

July 3, 2025

India’s services sector recorded its strongest performance in ten months …

Read More

India to remain fastest-growing economy through 2026: Morgan Stanley

July 1, 2025

India is expected to retain its position as the fastest-growing …

Read More