MUMBAI: Even as the global economy continues worry top business honchos, Indian CEOs seem to be bothered about lack of infrastructure and exchange rate volatility in India that could impact growth in the coming years.
According to a research by PwC — Redefining business purpose in a changing world — 90 per cent of the Indian CEOs consider inadequacy of basic infrastructure as one of the biggest threat for India’s and their company’s growth.
About 80 per cent of Indian CEOs were also worried about exchange rate volatility and 79 per cent were concerned about the slow pace of technology adaptation by India.
Industry trackers say that in many aspects India has been an early adapter of technology and there have been some huge frogs but a lot needs to be done.
“CEOs in India are widely using technology to understand and engage with stakeholders, even as they view its dynamic and constantly evolving nature as a new threat. They are also steering their way through apparent paradoxes—they expect to grow their headcount next year even as they propose to increase automation,” said Deepak Kapoor, chairman PwC India.
Most Indian chief executives are upbeat about their business while their global counterparts have a gloomier outlook, according to the research.
PwC’s Annual Global CEO survey, which interviewed more than 1,400 CEOs, shows that while two thirds (66 per cent) of the global CEOs see more threats facing their business, most Indian CEOs (64 per cent) remain optimistic.
However there are many challenges as the optimism meets the challenges. “Talent strategies are focused on leadership pipelines, as workplaces become more diverse. Crises are no longer remote events. In this increasingly uncertain and changing world, CEOs know that they must be prepared to deal with unexpected crises that can impact their growth prospects,” said Kapoor.