Growth reimagined: The hearts and soul of India

The report talks about the growing importance of India and its economy in the minds of global CEOs.  The report is based on an analysis of survey inputs provided by 60 Indian CEOs who took part in the PricewaterhouseCoopers 14th Annual Global CEO Survey, and highlights how India, referred to as ‘the world’s call centre’ by some, has today emerged as a key market, a notable supplier as well as a vital source for talent, knowledge and innovation.

Interestingly, among the 31 global CEOs who were interviewed in depth for this Global survey, there were two leading CEOs from India who participated - namely Vineet Nayar, Vice-Chairman and CEO, HCL Technologies and Sajjan Jindal, Vice Chairman and Managing Director of JSW Steel.

Some of the key findings of the report are:

  • The 60 Indian CEOs polled for the survey were among the most confident coming into 2011.
  • Indian CEOs are clear on where they expect growth to come from. China was named by half of the polled Indian CEOs as one of their top three growth markets. In addition, while developed markets such as Germany, Japan and the United States were viewed as important, Indian CEOs also stressed emerging economies such as Brazil, Indonesia, Vietnam and South Africa as key destinations.
  • Indian CEOs are also upbeat about their home market: 80% of them see India as having high potential for growth, versus 37% of global CEOs of their respective home
  • Indian CEOs are hiring quickly: 55% of surveyed Indian CEOs reported headcount increases in 2010, v. 42% globally. And 78% are planning increases in India in 2011 – half of whom are planning headcount increases of greater than 8%.
  • Indian CEOs express above-average concern about hiring and retaining key skilled workers. Of India-based respondents, 72% said they were ‘somewhat concerned’ or ‘very concerned’ about the present availability of key skills, compared with 56% globally.
  • Indian CEOs are just as keen as their global counterparts (57% v. 54%) to work with the government and education systems to improve skills in the talent pool.