Indian CEOs second most optimistic in the world, says survey

Indian CEOs are the second most optimistic in the world when it comes to their companies' growth prospects in the next 12 months and are planning aggressive hiring during the same period, says a survey.

Davos: Indian CEOs are the second most optimistic in the world when it comes to their companies' growth prospects in the next 12 months and are planning aggressive hiring during the same period, says a survey.

Their bullish outlook contrasts with decline in overall optimism among business chiefs globally, according to the annual CEO survey of global consultancy PwC, released here at the WEF Annual Meeting 2015.

"In India, hopes are running high, with reform-minded Prime Minister Narendra Modi now in power," the report said.

At 62 percent, the number of Indian CEOs who are very confident about their company's growth in the next one year is up 13 percent from last year and is 23 percent higher than this year's global average (39 percent), the survey found.

Besides, 59 percent of Indian CEOs believe that global economic growth will improve in the next 12 months, the highest across the world and much above the global average of 37 percent, PwC said.

The report said a massive 84 percent of India's CEOs believe there are more growth opportunities for their company on Wednesday than three years ago -- the highest percentage in the world.

Interestingly, when asked to name the countries most important to them for their growth in the next 12 months: 48 percent of CEOs in India said it is the US, and 26 percent said China.

Globally, however, CEOs have turned less optimistic about the global economy, although their confidence in growth of their own companies remains stable.

Globally, 37 percent of CEOs think global economic growth will improve in 2015, down from 44 percent last year.

Significantly, 17 percent of CEOs globally believe global economic growth will decline, more than twice as many as a year ago (7 percent).

Around 63 percent of Indian CEOs plan to enter into a new strategic alliance/joint venture, and a high 51 percent said they are plan to outsource a business process or function.

India's CEOs also believe that there are more threats to the growth of their company on Wednesday than three years ago. The top potential economic and policy threats highlighted by Indian CEOs are: inadequate basic infrastructure, over -regulation, and government response to fiscal deficit and debt burden.

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