Only 33% Indian CEOs confident of growth in domestic economy

New Delhi, Oct 7 : As Indian CEOs prioritise investments in new technologies to become future-ready in the pandemic times, only 33 per cent are confident of the growth in their domestic economy and just 42 per cent are optimistic about growth prospects of their company, a KPMG in India report said on Wednesday.
This figure was 78 per cent and 84 per cent at the beginning of the year, respectively.
This weakened view on the growth prospects is in line with that of CEOs globally.
“The CEOs in India are also less confident of their companies’ earnings. About 19 per cent CEOs in India expect the earnings of their companies to either remain flat or decline,” revealed KPMG in India’s ‘2020 India CEO Outlook : COVID-19 Special Edition’.
However, CEOs in India seemed to be better positioned than their global counterparts in terms of growth prospects of their companies’ earnings with 23 per cent CEOs globally foreseeing their companies’ earnings, stagnating or declining.
CEOs globally feel a greater need to re-evaluate their purpose amid Covid-19, than CEOs in India.