Are CEOs across the world thinking alike in terms of their growth strategies over the next few years? The India CEO Outlook Report by KPMG makes some revelations. In India, 22 % CEOs compared to 15 per cent CEOs globally will focus on employee value proposition to attract and retain top talent as an operational priority to achieve growth objectives over the next three years. The report also reveals that when it comes to advancing digitisation and connectivity across the business on priority, 18 per cent of CEOs in India and 18 per cent globally are on the same page.
While 13 per cent of Indian CEOs wish to inflation proof capital and input costs, only 11 per cent CEOs globally feel it should be made an operational priority for growth in 2024-27.
On the other hand, only 11 per cent Indian CEOs compared to 13 per cent global think execution of ESG executives should be prioritised to achieve growth by 2027.
Ten per cent of CEOs in India say they will understand and implement generative artificial intelligence or GenAI across the business. They will upskill their workers so that they have a competitive edge and also streamline processes in alignment with this priority. Globally, however, more (13 per cent) CEOs will do the same. In fact, 50 per cent CEOs in India and globally consider the race to embrace and embed generative AI and other technologies in their organisations as their primary challenge. A good 64 per cent of Indian CEOs consider ethical challenges as a hurdle to the implementation of generative AI.
A whopping 71 per cent of CEOs in India compared to 70 per cent of CEOs globally admit to having a good understanding of the ways in which GenAI can be advantageous to their organisation’s growth and success. A good 62 per cent expect to reap the returns on their investment in GenAI over the next three to five years.
Nine per cent Indian CEOs compared to eight per cent globally think organic growth will need to be prioritised for growth. Over the next three years, six per cent of Indian CEOs compared to seven per cent global CEOs will work to improve customer experience with the ultimate goal of achieving growth. Only six per cent Indian CEOs compared to 10 per cent global CEOs will look at achieving inorganic growth.
An equal number of Indian and global CEOs (six per cent) will reconfigure the supply chain on priority to provide greater resilience, transparency and consistent access to supplies over the next three years. By doing so, they hope to enhance the operational efficiency and enable adoption of new business models capable of responding more effectively to market demands, not just in the present but also in the future.
Thirteen per cent CEOs in India—compared to 11 per cent CEOs globally—view emerging and disruptive technologies, as one of the greatest threats to their organisation’s growth over the next three years. Across India Inc., CEOs are increasingly fearing technological stagnation, and that is why they are prioritising digitisation and working to improve connectivity across their respective businesses. That is also why they are leaning towards generative AI and upskilling of their workforce.
On the other hand, a significant 66 per cent of the CEOs in India compared to 69 per cent of the CEOs globally, believe that GenAI will have an adverse effect on their organisation’s growth and success over the next three years. They are already embracing growth strategies that will help them stay resilient in the face of these challenges.
Another cause for worry amongst Indian CEOs is the economic uncertainty, with 50 per cent of those surveyed bothered about it. However, only six per cent Indian CEOs consider this a threat to the growth of their business over the next three years, compared to 12 per cent of their global counterparts. The primary worry for 43 per cent Indian CEOs is the geopolitical complexities.