At least 66 percent of CEOs in India compared to 86 percent globally anticipate a recession to hit, with 86 percent CEOs in India compared to 71 percent of CEOs globally predicting it will impact company earnings by up to 10 percent, unveiling KPMG 2022 India CEO Outlook. Further 62 percent of CEOs in India compared to 73 percent globally believe that a recession will upend anticipated growth.
The survey reveals that 58 percent of leaders in India as well as globally expect a recession to be mild and short. Yezdi Nagporewalla, CEO, of KPMG in India, said “Be it the business ecosystem, or supply chain or issues pertaining to talent, the magnitude of these challenges has altered dramatically and what matters is how agile business leaders are to respond. CEOs in India surveyed appear confident in their organization’s resilience, they also seem to have prepared themselves to make the most of the current environment, brought on by the promise of technology, talent, and ESG.”
“With the increasing pace of change and transformation, CEOs in India have accepted and adapted to the current needs of the modern workforce. It is indeed, heartening to note that CEOs in India are looking to increase measurement and governance to build a more robust and transparent approach towards driving a long-term ESG agenda” he added.
However, as per the predictions of the IMF and other institutes and organizations, they feel that India is in a very good position to overcome the recession with flying colors, and also India will pave the way for global recovery and become the power hub in the near future as most of the companies are looking to invest and collaborate with India. So the future looks bright for the Indian market compared with other markets which is the key to becoming a 10 trillion economy.