Nearly Two-Thirds Of Indian CEOs Optimistic On Global Economic Outlook In 3-5 Years: Report
The research report shows that CEOs of the largest corporations in the world remain upbeat despite the current economic unrest.
Nearly two-thirds of Indian companies' CEOs expect a steady or positive global economic outlook over the next three to five years, despite present challenges and sombre macroeconomic projections for 2023, according to a research report released on Thursday.
The research by strategy and management consulting firm Arthur D Little also highlighted that the CEOs are keen on growth despite the crisis, as half (of them) believe they will expand into new regions, while 30% anticipate growing faster than the overall market.
As many as 250 CEOs of businesses with annual sales of at least $1 billion were interviewed for the firm's 2023 CEO Insights research, of which 33% of the Indian CEOs surveyed had an optimistic view about the economic outlook over the next 3-5 years, quite above the global average of 22%, as per the report.
These include 21 CEOs of the Indian companies, according to the research organisation.
The research report shows that CEOs of the largest corporations in the world remain upbeat despite the current economic unrest. It said that a quarter of CEOs in North America, 10% in Asia, and 38% of CEOs in Europe's top five economies—France, Germany, Italy, Spain, and the U.K.—expect to see a positive economic outlook over the next three to five years.
At the same time, as much as 60% of Indian CEOs intend to increase spending and 33% aim to maintain spending levels as they anticipate growth with 75% of Indian CEOs looking to beat or meet market growth, according to Arthur D Little.
Even cautious CEOs anticipate increasing growth investments, with 40% planning to raise spending and 55% holding expenditures steady, it said.
"Our research reveals that Indian CEOs are more optimistic about the future than their global counterparts. They look past the current crisis to embrace a more promising future for their businesses with over 90% of Indian CEOs increasing or maintaining growth investments," said Barnik Chitran Maitra, managing partner, Arthur D Little.
