58% of CEOs in India expect a recession to be mild and short: KPMG
1 min read . Updated: 17 Oct 2022, 05:18 PM IST
Premium- Around 62% CEOs in India compared to 73% globally believe that a recession will upend anticipated growth
More than half of chief executives in India expect a recession to be “mild and short". However, a large number of them compared to counterparts globally, estimate the recession to hit global earnings by up to 10%.
“58% of CEOs in India as well as globally expect a recession to be mild and short," said KPMG 2022 India CEO Outlook.
The study has asked more than 125 CEOs in India about their strategies and outlook.
“Over the next year, 66% CEOs in India compared to 86% globally anticipate a recession to hit, with 86 % CEOs in India compared to 71 % CEOs globally predicting it will impact company earnings by up to 10%," it added.
The study by consulting firm KPMG noted that pandemic fatigue, economic factors- including the threat of rising interest rates, inflation and anticipated recession and reputational risk, top the list of most pressing concerns for CEOs in India today.
Around 62% CEOs in India compared to 73% globally believe that a recession will upend anticipated growth.
“Be it the business ecosystem, or supply chain or issues pertaining to talent, the magnitude of these challenges has altered dramatically and what matters is how agile business leaders are to respond," said Yezdi Nagporewalla, CEO, KPMG in India.
“CEOs in India surveyed appear confident in their organisation’s resilience, they also seem to have prepared themselves to make the most of the current environment, brought on by the promise of technology, talent and ESG," he added.
