The top five markets considered as most important for overall growth are USA, China, Germany, the UK and India. INDIA has emerged as one of the five most promising markets for businesses globally as it offers one of the best opportunities for both domestic as well as global companies.
Key points about survey
- India, which has continued to do well under Prime Minister Narendra Modi’s pro-business government, said the survey which covered 1,409 CEOs spread across 83 countries.
- India is the fastest growing large economy in the world, it offers one of the best opportunities for both Indian and global companies in a world that is still coming to terms with a slower growth paradigm and increasing geopolitical uncertainty
- As per the findings, CEOs are less optimistic about prospects this year and those who think global growth would improve over the next 12 months have declined to 27 per cent from 37 per cent seen in 2015.
- Against this tide of pessimism, CEOs in India (64 per cent), Spain (54 per cent) and Romania (50 per cent) stand out as more optimistic.
- PwC India Chairman Deepak Kapoor said CEOs in India have given strong indication of general uplift in sentiments by showing much more confidence than their global counterparts when it comes to revenue growth for their companies.
- 90 per cent of the Indian CEOs cited inadequate basic infrastructure as a major threat and 80 per cent mentioned exchange rate volatility and 77 per cent cited over-regulation.
- The survey said, “Of business threats, 81 per cent stated availability of key skills, 79 per cent stated speed of technological change, 78 per cent stated bribery and corruption,”