Survey conducted by PricewaterhouseCoopers.
By Sreejith Vallikunnu
India is one of the most promising markets for businesses globally, according to the annual global CEO survey of consultancy giant PricewaterhouseCoopers International Ltd (PwC) released at the World Economic Forum (EWF) annual meeting.
The top five markets considered as most important for overall growth prospects by the respondents are USA, China, Germany, the UK and India.
The survey has covered 1,409 CEOs spread across 83 countries.
“India, which has continued to do well under Prime Minister Narendra Modi’s pro-business government, is now among CEOs’ five most promising overseas markets,” the survey said.
“Against this tide of pessimism, CEOs in India (64 percent), Spain (54 percent) and Romania (50 percent) stand out as more optimistic,” it said.
PwC India Chairman Deepak Kapoor noted that the recent policy reforms and a consequent pick up in investment and the government’s aim to boost infrastructure are playing a role in boosting CEO confidence India.
According to Kapoor, India has given a strong indication of general uplift in sentiments by showing much more confidence than their global counterparts when it comes to revenue growth for their companies.
“Of business threats, 81 percent stated availability of key skills, 79 percent stated speed of technological change, 78 percent stated bribery and corruption,” the survey said.
“With India as the fastest growing large economy in the world, it offers one of the best opportunities for both Indian and global companies in a world that is still coming to terms with a slower growth paradigm and increasing geopolitical uncertainty,” Kapoor added.