A recent survey by PwC, part of its 28th Annual Global CEO Survey, highlights India’s crucial role in driving global innovation, sustainability, and economic growth. The survey polled over 4,700 CEOs from 109 countries, including 75 from India. It reveals that nearly 9 out of 10 Indian CEOs are confident about the country’s economic future, with a strong focus on expansion plans, workforce growth, and the adoption of Artificial Intelligence (AI).
CEOs Optimistic About Economic Growth, Despite Challenges with AI and Skills Shortage
The survey reveals that 87% of Indian CEOs are optimistic about the country’s economic prospects, significantly surpassing the global average of 57%. Furthermore, 74% of Indian CEOs anticipate revenue growth for their companies over the next three years. This optimism is fuelled by India’s resilient economy, enhanced ease of doing business, infrastructure improvements, and a young, skilled workforce.
The survey also highlights several key challenges faced by Indian CEOs, including technological disruption, particularly from AI, macroeconomic instability, inflation, and a shortage of skilled labor. Despite these obstacles, AI—especially Generative AI (GenAI)—is seen as a potential driver of profitability, with 51% of Indian CEOs expressing optimism about its capabilities. However, trust in AI integration remains a concern, as only a third of Indian CEOs are confident in its seamless incorporation into business operations.
Sustainability and Diversification Drive Growth for Indian CEOs
Sustainability is becoming increasingly important, with more than a third of Indian CEOs reporting revenue growth from climate-friendly investments over the past five years. These investments are progressively seen as key to profitability, as 58% of Indian CEOs have sustainability metrics tied to their personal incentives, slightly surpassing the global average of 56%.
In terms of business reinvention, 40% of Indian CEOs have entered new sectors in the past five years, reflecting a strategic shift towards diversification for growth. Common areas of focus for these leaders include product and service innovation, as well as direct-to-consumer approaches. Moreover, 38% of CEOs have focused on expanding their customer base, while 26% have pursued collaborations to foster growth.
