99% CEOs confident of economic growth over the next 12 months: PwC

94% of Indian CEOs are confident of global economic growth over the next 12 months

January 19, 2022

The survey interviewed 4,446 CEOs from 89 countries and territories between October to November 2021

PWC’s survey saw that long-term strategy will continue to be driven by business metrics, both globally and in India

Most CEOs included non-financial outcomes such as customer satisfaction, employee engagement, and automation or digitisation as their long-term strategy

CEO confidence in sustained economic growth is a testament to the resilience of Indian companies - Sanjeev Krishan, Chairman, PwC

Despite the current uncertainty due to the Omicron variant, 99% of chief executive officers (CEOs) in India believe the country’s economic growth will increase over the next 12 months, as per PwC’s 25th Annual Global CEO Survey. Also, 94% of Indian CEOs are confident of global economic growth over the next 12 months compared to 77% of their global counterparts. The survey interviewed 4,446 CEOs from 89 countries and territories between October to November 2021, including 77 CEOs from India

Due to global concerns about the ongoing pandemic, fluctuations in GDP, unemployment, and inflation, business leaders are under pressure to deliver top-line results. This will require CEOs to take proactive steps to mitigate current and future risks – around technology, cyber security, talent management, or health.

Despite rising interest in Environmental, Social, and Governance (ESG) factors, PWC’s survey found that long-term strategy will continue to be driven by business metrics, both globally and in India. However, most CEOs included non-financial outcomes such as customer satisfaction, employee engagement, and automation or digitisation as their long-term strategy. The survey highlighted that 81% and 75% of Indian CEOs, as compared to 71% and 62% of their global counterparts, incorporated customer satisfaction and employee engagement, respectively, in their company’s long-term corporate strategy.

Also, 78% of Indian CEOs included automation and digitisation goals in their company’s strategy, against 54% of global CEOs.  However, health risks (89%), geopolitical conflict (77%), and cyber risks (77%) are the primary concerns for Indian CEOs and may have a near-term impact on their top-line results.

Sanjeev Krishan, Chairman, PwC in India stated that CEO confidence in sustained economic growth is a testament to the resilience of Indian companies. The dynamism with which most Indian business leaders took on the challenges brought by the pandemic, coupled with the will to emerge stronger from adversity, has contributed to the sustained growth of the Indian economy – a trend that is expected to continue for the next 3-4 years.