Economy

KPMG: Indian CEOs more confident about global economic growth

KR Srivats New Delhi | Updated on August 02, 2018 Published on July 31, 2018

Territorialism seen as key challenge to growth; 66% rank it as one of the top three risks

 

According to the fourth annual KPMG CEO Outlook Report for India, 89 per cent of the CEOs are confident about the growth of the global economy, while only 69 per cent remained confident about the growth of the Indian economy.

They see a return to territorialism as one of the key challenges to their growth, with 66 per cent ranking it one of the top three risks faced by their organisation.

The report is based on the inputs of over 125 Indian CEOs, who are among 1,300 from the world’s 11 largest economies.

This report, which draws parallel insights from KPMG’s Global CEO Outlook report, also assesses some of the key international trends impacting India as well as how the organisations can face and chart new business strategies for success over the next three years.

“Leaders have to accept that they cannot predict the future but must prepare their organisations effectively to manage the growing pain in their business,” said Arun M Kumar, Chairman and CEO, KPMG in India.

Agility and Alliances

According to CEOs in India, acting with agility is imperative for an organisation’s survival over the next three years.

Around 79 per cent of CEOs in India acknowledge that third-party partnerships are essential for organisational agility.

In addition, Indian CEOs have a low appetite for mergers and acquisitions, with only 11 per cent of them considering it a top priority for growth.

CEOs in India are embracing the benefits of technology disruption, as 94 per cent see it as more of an opportunity than a threat. Seventy six per cent of CEOs believe their organisation has a strong understanding of how to measure return on investment (ROI) from their digital transformation initiatives and 82 per cent say the same for their AI systems.

The majority of them in India agree that the Board has an unreasonable expectation for return on investment related to digital transformation.

Published on July 31, 2018
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