India's top CEOs expect better hiring in the first half of this fiscal as compared to the same period last year despite a record-high inflation.
Seventy-eight percent of CEOs polled by the Confederation of Indian Industry (CII) believe they will hire more people in the first half of FY23 as compared to FY22; 36 percent of therespondents expect the GDP to grow between 7 and 7.5 percent, while 6 percent see GDP growth between 8 and 8.5 percent in FY23. About 3 percent expect GDP to grow above 8.5 percent.
On the inflation outlook, 48 percent of the CEOs polled expect inflation to hover between 7 and 8 percent, while 16 percent expect it to fall below 6 percent.
Further on the rupee depreciation, 45 percent of CEOs polled expect rupee to surpass above 80 per dollar. While 41 percent feel the Indian currency will trade between Rs 78 and 79 per US dollar.
To discuss the key findings of the poll, CNBC-TV18 spoke to Shobana Kamineni, Former President of CII and Executive VC at Apollo Hospitals; Vikram Kirloskar, Former President of CII and VC at Toyota Kirloskar Motor; and Naushad Forbes, Co-Chairman at Forbes Marshall.
According to Forbes, India is in a position to take advantage of current global issues and become an active participant in global supply chain.
“The general view is that India is in a good space. We are in a position where we can take advantage of current global issues and become active participants in global supply chains. India will be affected by global inflation and what is happening in the war in Ukraine, but it seems like we will be affected less even in the short run. In the medium to long run, the prospects are very healthy for India.”
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