{"id":37440,"date":"2023-02-13T12:49:36","date_gmt":"2023-02-13T07:19:36","guid":{"rendered":"https:\/\/plyinsight.com\/?p=37440"},"modified":"2023-02-13T12:51:25","modified_gmt":"2023-02-13T07:21:25","slug":"industry-most-cautious-on-economic-growth-in-a-decade","status":"publish","type":"post","link":"https:\/\/plyinsight.com\/hi\/industry-most-cautious-on-economic-growth-in-a-decade\/","title":{"rendered":"Industry most cautious on economic growth in a decade"},"content":{"rendered":"

Nearly six in 10 corporate heads in India (57 per cent) are optimistic about the country’s growth prospects in 2023 in the face of a global slowdown, as well as inflationary and geopolitical concerns, according to a survey by advisory firm PwC. This is \u201cthe most cautious outlook in over a decade\u201d, the survey said.<\/span><\/p>\n

The PwC’s Annual Global CEO Survey showed that 78 per cent of chief executive officers (CEOs) in India and 73 per cent of global CEOs believe that global economic growth will decline over the next 12 months. PwC said this is \u201cthe most pessimistic\u201d that CEOs have been in over 10 years, reflecting the uncertainty which has gripped the global economy since the war in Europe. Conducted in the last quarter of 2022, as many as 4,410 CEOs from 105 countries, including 68 from India, participated in the survey.<\/span><\/p>\n

Almost six in 10 India CEOs express optimism about India’s economy over the next 12 months. In comparison, only 37 per cent of Asia Pacific CEOs and 29 per cent of global CEOs expect economic growth to improve in their countries or regions over the next 12 months.<\/span><\/p>\n

The survey said the changing economic environment, including changing customer demands and supply chain disruptions, has also compelled CEOs to relook at their companies. About 41 per cent of India CEOs believed their organizations would not be economically viable in 10 years, if they continued on their current course.<\/strong><\/span><\/p>\n

\u201cDespite signs of a global economic slowdown, continuing high inflation, and the ripple effects of the conflict in Europe, there is optimism among India CEOs about the country’s economic growth. To survive over the next few years CEOs will need to manage external risks and drive profitability. Cost reduction is a top priority for companies across the world. In the long term, they will also need to reimagine, reinvent, and reconfigure their businesses and work culture to thrive. Importantly, they need to act on both now, and simultaneously,\u201d said PwC.<\/span><\/p>\n

\u201cIf organizations are to remain viable in the near (term) and the long term, they must also invest in their people and technological transformation agenda to empower their workforces, \u201che added.<\/span><\/p>\n

However, 96 per cent of Indian CEOs said that there are no plans to cut salaries either. This shows that they want to retain the cross-linguistic employees in the company. While cost cuts are high on the priority list globally, 85 per cent of India CEOs do not plan to reduce headcount, and 96 per cent do not plan to reduce compensation\u2014demonstrating their resolve to retain talent, the report said.<\/span><\/p>\n

The survey stated at least 67 per cent of India CEOs were adjusting supply chains to mitigate exposure to geopolitical conflicts, while 60 per cent of companies in India are currently innovating new, climate friendly predicts or processes.<\/span><\/p>\n

India CEOs noted the need to collaborate with a wide range of stakeholders to build trust and deliver sustained outcomes if they are to generate long-term societal value.<\/span><\/p>\n

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Nearly six in 10 corporate heads in India (57 per cent) are optimistic about the country’s growth prospects in 2023 in the face of a global slowdown, as well as inflationary and geopolitical concerns, according to a survey by advisory firm PwC. This is \u201cthe most cautious outlook in over a decade\u201d, the survey said. […]<\/p>","protected":false},"author":1,"featured_media":30300,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3951],"tags":[3582,603,2618],"class_list":["post-37440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-february-articles-2023","tag-economic-growth","tag-economy","tag-global"],"yoast_head":"\nIndustry most cautious on economic growth in a decade - PLY INSIGHT<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/plyinsight.com\/hi\/industry-most-cautious-on-economic-growth-in-a-decade\/\" \/>\n<meta property=\"og:locale\" content=\"hi_IN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Industry most cautious on economic growth in a decade - PLY INSIGHT\" \/>\n<meta property=\"og:description\" content=\"Nearly six in 10 corporate heads in India (57 per cent) are optimistic about the country’s growth prospects in 2023 in the face of a global slowdown, as well as inflationary and geopolitical concerns, according to a survey by advisory firm PwC. This is \u201cthe most cautious outlook in over a decade\u201d, the survey said. 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This is \u201cthe most cautious outlook in over a decade\u201d, the survey said. 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