CEOs expect pre-crisis level revenue in year's time: PWC survey
New Delhi: Majority of Indian CEOs expect
revenues of their companies to increase to pre-crisis level in
a year's time with a turnaround in economic recovery, says a
PricewaterhouseCoopers (PwC) survey.
Studying the confidence levels of Indian chiefs, a report
by global consultancy firm PwC found that 63 per cent of
Indian CEOs are "very confident" of their revenue growth
prospects over the next 12 months, while 34 per cent were
"somewhat confident".
"Many CEOs believe the country's manufacturing sector
has become increasingly competitive and the economy is
shifting away from its reliance on the services sector, a path
that could take advantage of the broad spectrum of the
nation's labour force," said PwC Leader, Markets and
Industries, Jairaj Purandare.
Industry, represented by the Index of Industrial
Production (IIP) grew by 10.4 per cent in August, against 1.7
per cent in the same month a year ago. The manufacturing
sector contributes about 80 per cent to the industrial output.
Further, according to the survey, CEOs expect growth to
come primarily from existing markets, with 58 per cent citing
that as a primary opportunity, besides new product development
and new geographic market.
The report, however, added that the business confidence
levels of CEOs is on par with last year when 70 per cent were
"very confident".
Bureau Report