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India among top 5 most promising markets globally :Survey
India has emerged as one of the five most promising markets for businesses globally, says the annual global CEO survey of consultancy giant PricewaterhouseCoopers (PwC) released at the WEF Annual Meeting.
The survey pointed out:
India offers one of the best opportunities for both domestic as well as global companies.
The confidence level among Indian CEOs remains higher than the global average although they have also become less confident since last year about the growth prospects of their own companies.
CEOs in India (64 per cent), Spain (54 per cent) and Romania (50 per cent) stand out as more optimistic.
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.
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.
USA, China, Germany, the UK and India are the top five markets considered most important for overall growth prospects by the respondents, according to the
The survey covered 1, 409 CEOs spread across 83 countries.
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.
Around 75 per cent of Indian CEOs believe there are more growth opportunities for their companies today than three years ago.
93 per cent of Indian CEOs agree that tax is a business cost that needs to be efficiently managed like any other business cost.
87 per cent agree that a stable tax system is more important than low rates of tax .
Cyber security is also a worry for 61 per cent of CEOs, representing as it does (pose) threats to both national and commercial interests
PricewaterhouseCoopers is a multinational professional services network. It is the largest professional services firm in the world, and is one of the Big Four auditors, along with Deloitte, EY and KPMG.
Vault Accounting 50 has ranked PwC as the most prestigious accounting firm in the world for seven consecutive years, as well as the top firm to work for in North America for three consecutive years.
As of 2015, PwC is the 6th-largest privately owned organization in the United States.