New Delhi: To mitigate the impact of
slowdown on their businesses, majority of Indian firms have
implemented significant cost reductions and are reviewing
their operational effectiveness, a PwC survey says.
As per the report by PricewaterhouseCoopers, the global
meltdown changed the growth oriented objectives of Indian
businesses and there has been a renewed focus on operational
effectiveness to ensure survival that have undertaken various
measures to achieve this.
"With over 91 per cent respondents implementing
significant cost reduction and 70 per cent reviewing
operational or working capital cycle, India Inc seems to have
mitigated the impact of the meltdown on their businesses," the
report stated.
The report focused on how Indian businesses can be
expected to act in looking for growth over the next 12-18
months as the world economy recovers.
It stated that with the economy appearing to be on a path
to recovery, India Inc is "cautiously optimistic" about its
prospects and is beginning to assay growth again but is still
wary of large capital commitments.
The survey was conducted among CEOs, CFOs and group heads
of diversified Indian businesses to understand what India Inc
felt about the impact of the downturn on their business
prospects.
Bureau Report
First Published: Wednesday, November 11, 2009, 20:22