Almost two years after being hit by the COVID-19 pandemic, India's economic indicators are gradually returning to pre-COVID levels. The chief executive officers (CEOs) of some of the largest businesses in India are confident that the recovery being witnessed is sustainable.
A KPMG survey of 125 CEOs of large business houses in the country done between July and August this year shows that 82 percent of Indian CEOs are confident of their company's growth prospects compared to 87 percent CEOs globally.
The survey also found that leading CEOs in India are looking to sharpen their digital edge further. Ay many as 48 percent Indian CEOs said they are focussing on digital resilience along with agility, which is higher than 42 percent CEOs globally.
The survey found that 64 percent CEOs in the country are prepared for a ransomware attack. Moreover, 68 percent perceive technological disruption caused by the pandemic as more of an opportunity than a threat.
In an interview with Shereen Bhan, Arun Kumar, Chairman and CEO of KPMG India said the survey indicates that CEOs are optimistic about the global economy as well as the prospects of each company.
"55 percent of CEOs felt very optimistic about the prospects of the global economy which is very much in line with CEOs in India. So overall there is optimism both about the global economy as well as prospects of each company," he said.
He added that the survey indicates Indian CEOs are focused on growth both organically as well as through mergers and acquisitions (M&A). "More Indian CEOs were focused on M&A relatively to their global counterparts. However what is equally interesting is that Indian CEOs also focused on organic growth, growth without M&A. So, overall Indian CEOs seem to be focused on growth both organically as well as through M&A," he said.
Watch the video for more.