Indian CEOs most optimistic in world: PWC survey

Jan 23 2013, 11:15 IST
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CEO confidence level is very high in India also in terms of hiring people. (Thinkstock) CEO confidence level is very high in India also in terms of hiring people. (Thinkstock)
SummaryThe report was released on the sidelines of World Economic Forum (WEF) annual meeting.

cent said they are very confident -- making them the most optimistic in the world.

About global economy, 38 per cent of Indian CEOs anticipate improvement in the global economy in 2013, which make them the most optimistic across the world.

However, global CEOs are not so gung-ho either about their own company's growth or the growth potential of India.

Listing the countries about whose growth they are very confident, the CEOs from across the world listed China on the top, while India was at the fifth place ranked below the US, Brazil and Germany.

In longer term, the confidence level of CEOs from the across the world has remained stable and 46 per cent of business heads globally said they are confident of growth

prospects in the next three years.

Releasing the survey, PriceWaterhouseCoppers International Chairman Dennis M Nally said that CEOs from across the world are cautious about their short-term growth prospects and the outlook for the global economy.

He listed reasons like over-regulation, government debt and capital market instability for decline in the confidence levels of CEOs globally in the past year.

The biggest threats cited by Indian CEOs included protectionist tendencies of national governments, exchange rate volatility, government's response to fiscal deficit and debt burden, and bribery and corruption.

For business threats, 81 per cent cited availability of key skills, inadequate basic infrastructure and increasing tax burden.

Also, 92 per cent of Indian CEOs said there was a need to increase capital investment in 2013, while 74 per cent said they would increase headcount this year. Among Indian CEOs, only 9 per cent plan to shed jobs, which is the lowest in the world. During the past year, 62 per cent raised headcount and only 10 per cent cut the jobs -- which was again the lowest globally.

In terms of restructuring efforts, 60 per cent of Indian CEOs said they implemented cost cutting measures in the past year and 53 per cent plan to do so in 2013.

The Indian CEOs' top target regions for M&As, joint ventures and strategic alliances during 2013 would be North America (44 per cent), South Asia (22 per cent), South East Asia (23 per cent) and Central & East Europe or Central Asia (21 per cent).

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