CEOs' confidence turns pessimistic

Bottom Line Pressure

- Changing customer demand

- It'll impact profitability

- CEOs will need to manage external risks and drive profitability

New Delhi: Over seven in 10 (78%) of India CEOs feel that global economic growth will decline over the next 12 months, and the CEOs' confidence in their own company's growth prospects has also declined significantly from last year, a report showed on Monday.

This is the most pessimistic CEOs' thinking in the last 12 years, and is a significant departure from the optimistic outlooks of 2021 and 2022.

In addition to a global challenging environment, 62 per cent of India CEOs believe that changing customer demand will impact profitability in their industry over the next 10 years to a large or very large extent, while 54 per cent are concerned about changes in regulations, according to PwC's 'Annual Global CEO Survey'.

"Despite 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," said Sanjeev Krishan, Chairperson, PwC in India.

To survive over the next few years, the CEOs will need to manage external risks and drive profitability.