New Delhi: India is rising as a leading investment destination despite global challenges. According to PwC’s latest Global CEO Survey, India jumped from fifth to a top spot for future investments among CEOs worldwide.
The survey gathered insights from 4,454 global leaders, including about 50 from India, showing strong optimism for the Indian economy. While many countries see slowdowns, India appears resilient. Seventy-seven percent of Indian CEOs foresee economic growth next year, surpassing the global average of 55%. Moreover, 57% of Indian respondents are confident about their near-term revenue growth—a significant increase compared to the global average.
Experts attribute this positivity to India’s vast consumer market, stable policies, and improving digital infrastructure. Pronab Sen, a former Chief Statistician of India, views these findings as encouraging signs for local business leaders. However, he cautions against complacency and emphasizes the need for support in the Micro, Small, and Medium Enterprises (MSME) sector, which is still recovering post-demonetization.
Sakshar Duggal, a legal and technology expert, notes that India’s attractiveness to investors stems from more than just the numbers. He emphasizes the importance of stability and long-term growth potential. He believes that the nation’s institutional maturity is key to attracting high-quality investments.
Cybersecurity is also a growing concern for Indian CEOs. The survey found that nearly 48% plan to increase their cybersecurity budgets, aligning with global trends. This recognition underscores that cybersecurity is a critical strategic priority rather than merely a compliance issue. Additionally, 66% of Indian CEOs worry about keeping up with rapidly evolving technologies like artificial intelligence (AI), contrasting with only 42% of international CEOs who share these concerns.
Emerging technologies are prompting Indian companies to diversify into new sectors. The survey revealed that 57% of CEOs have ventured into at least one new area in the last five years. Technology is the most popular choice for diversification, with many looking to invest in it over the next three years. This proactive approach aligns with national goals like “Make in India.”
Interestingly, CEOs view AI as a crucial driver for competitiveness. However, its application remains inconsistent. About 37% utilize AI for demand generation, while 32% report revenue growth thanks to AI use. Despite this, many acknowledge they need to improve data readiness and talent development to maximize AI’s potential.
According to Sanjeev Krishan, Chairperson of PwC in India, the survey reflects strong confidence in India’s long-term potential but also highlights the need for strong leadership to navigate the growing complexity of technology and cybersecurity risks.
As India positions itself as a key player in the global market, it faces both opportunities and challenges. The government’s focus on small industries and technology adoption will be vital in maintaining momentum and driving sustainable growth.
For more insights, you can explore PwC’s Global CEO Survey further for recent findings and forecasts. Check out PwC’s report here: PwC CEO Survey.
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