New Delhi, Jan 16 (IANS) India’s CEOs have flagged inflation, cyber risks, and health concerns as the biggest threats to their businesses in the next 12 months, a new report revealed on Tuesday. According to global consultancy firm PwC, India’s annual retail inflation hit a 15-month high of 7.44% in July last year but had cooled to around 5.5 per cent in November 2023.
The perceived risk from cyber threats saw a jump of 10% from last year, with 28% of India CEOs – as against 18% last year – expecting high exposure to it.
Health risks rank highly on the list of concerns faced by CEOs in India, with 27% indicating that they anticipate their companies to be extremely and highly exposed to these over the next 12 months, the report noted.
“While India CEOs will indeed play a big role in the country becoming a five-trillion-dollar economy, they will also need to reinvent their businesses and work culture to ensure long-term sustainable success,” said Sanjeev Krishan, Chairperson, PwC in India.
The report said that about 86% of CEOs believe the Indian economy will improve over the next 12 months. About 62% of India CEOs are confident about their company’s growth over the next 12 months, as against 37% of global CEOs. About 70% of India CEOs – as against 49% of global CEOs – said they were confident of their company’s prospects for revenue growth over the next three years.
Further, the report mentioned that around 71% of India CEOs expected GenAI to increase employee efficiency over the next 12 months, while 70% believed it would improve their own performance.
They also believe GenAI is likely to increase revenue (48%) and profitability (46%).
On the impact of the growing use of GenAI, around 30% of India CEOs felt it would lead to the shrinking of jobs.
–IANS/shs/vd