CEOs Bullish On India’s Economic Growth? PwC Survey Answers

According to a recent survey by PwC's 28th Annual Global CEO Survey, India’s CEOs are hopeful of the country's economic growth, with 87% expressing their optimism in its growth trajectory, far surpassing the global average of 57%. 74 % of India CEOs are highly confident about their companies’ revenue growth over the next three years. 
However, this optimism has its caveats with technological disruption emerging as the primary concern for India’s corporate leaders, followed by macroeconomic volatility, a shortage of skilled labour, and inflation. In shaping the economic viability of businesses in the country, disruptive technology stands out as a crucial factor.
 

GenAI Adoption Gains Momentum Amid Trust Deficit

Globally, with the arrival of Generative artificial intelligence (GenAI) industrial bodies across the world witnessed efficiency and revenue gains in the past year.  51 % India CEOs are in favour of AI having a positive impact on a company's profitability. However, Trust still remains a concern as only one third of Indian CEOs show faith in its successful integration in the business.
The escalating influence of AI has also driven a surge in demand for specialised roles. Research from Adecco highlights a 39% increase in job opportunities in Artificial Intelligence (AI) and Machine Learning (ML) as organisations shift towards advanced technologies in the last year.

Positive Outlook Drives Hiring and Investments

Sanjeev Krishan, Chairperson, PwC in India, said in a statement: “For CEOs today, the challenge is to envision the ecosystem in which their company will operate in the future. This includes thinking through the impacts of megatrends like climate change and AI, evolving customer needs, shifting value pools, and the roles that their company will play.” 

India’s economic growth, supported by improved ease of doing business, robust infrastructural developments, and a young, skilled workforce, continues to attract investors. The survey revealed that 68% of India CEOs plan to increase hiring in the next 12 months, a notable rise from 57% last year. Globally, 42% of CEOs are set to expand their workforce, with AI playing a pivotal role in reshaping employment dynamics.

From a macro view, the robust Indian economy has positioned itself as a preferred investment for investment. The Indian economy’s resilience has positioned the country as a preferred investment destination. This confidence is further bolstered by businesses focusing more on sustainability and climate friendly efforts.

 Revenue Growth Through Climate Investments

Addressing climate change has become a strategic priority for Indian businesses. Over the past five years, more than one-third of India CEOs have reported revenue growth linked to climate-friendly investments. Furthermore, over 60% noted that these investments either reduced costs or had no significant financial impact.

Globally, sustainability continues to be a key focus area. The survey found that 56% of CEOs worldwide have linked their personal incentive compensation to meeting sustainability targets, underlining the growing importance of environmental accountability.