Indian CEOs most optimistic globally about business, economy

Posted By: Religare
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Indian CEOs are the most optimistic lot across the world for their own business as well as for the global economy, even as the overall optimism among business chiefs globally has come down for growth in the next one year, reported PTI.

Indian CEOs also top the list in terms of confidence in their hiring plans, longer-term growth outlook and on availability of growth opportunities present today, as per the annual CEO survey of global consultancy PwC, released here on the first day of WEF Annual Meeting 2015.

Indian CEOs most optimistic globally about business, economy
At 62 per cent, the number of Indian CEOs who are very confident about their company's growth in the next one year is up 13 per cent from last year and is 23 per cent higher than this year's global average (39 per cent), the survey found.

Besides, 59 per cent of Indian CEOs believe that the global economic growth will improve in the next 12 months - the highest across the world and much above the global average of 37 per cent, PwC said.

Russian CEOs, who were the most confident in 2014, have become the least optimistic this year. Indian CEOs were the most optimistic in 2013 as well (63 per cent), but their confidence level came down in 2014 (49 per cent) about their own business growth.

Globally, however, CEOs have turned less optimistic about the global economy, although their confidence in growth of their own companies remains stable.

The US has overtaken China as the top target market for growth in the first time in five years.

"Fewer CEOs than last year think global economic growth will improve over the next 12 months," PwC said while citing results of its 18th Annual Global CEO Survey on the basis of responses from more than 1,300 CEOs.

Globally, 37 per cent of CEOs think global economic growth will improve in 2015, down from 44 per cent last year.

Significantly, 17 per cent of CEOs globally believe global economic growth will decline, more than twice as many as a year ago (7 per cent).

Regionally, the results show wide variations. CEOs in Asia Pacific are the most optimistic about the global economy, followed by the Middle East and North America.

CEOs in emerging economies like India, China and Mexico are also more optimistic about the economy than those in developed economies like the US and Germany.

Commenting on the India findings, Deepak Kapoor, Chairman, PwC India, said: "This clear and significant spike in CEO confidence in India is encouraging. There has been a palpable uplift in sentiments among Indian corporates and the survey strengthens the belief that corporate India is on the growth path and engaging in the nation building process."

In the longer term, an astonishing 71 per cent of India's CEOs are very confident of growth over the next three years, making them the most upbeat in the world on this front too.

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