66% CEOs In India Predict Recession In Next 12-month: KPMG Survey

At least 66 per cent CEOs in India compared to 86 per cent globally anticipate a recession to hit, with 86 per cent CEOs in India compared to 71 per cent CEOs globally predicting it will impact company earnings by up to 10 per cent, unveils KPMG 2022 India CEO Outlook

Further 62 per cent CEOs in India compared to 73 per cent globally  believe that a recession will upend anticipated growth.

The survey, which asked more than 125 CEOs in India about their strategies and outlook, reveals that 58 per cent of leaders in India as well as globally expect a recession to be mild and short.

Senior executives in India as well as globally also feel markedly more confident about the resilience of the global economy over the next six months (82 per cent CEOs in India compared to 73 percent CEOs globally) than they did in February 2022 (40 percent CEOs in India compared 60 per cent CEOs globally), when KPMG surveyed 500 CEOs for its CEO Outlook Pulse survey. Further, 57 per cent CEOs in India are confident about the global economy's growth prospects over the next three years (up from 52 per cent in February 2022) and nearly 72 per cent CEOs in India are confident about their organization’s growth over the next three years.

India compared to 86 per cent globally anticipate a recession to hit, with 86 per cent CEOs in India compared to 71 percent CEOs globally predicting it will impact company earnings by up to 10 percent. 62 per cent CEOs in India compared to 73 per cent globally  believe that a recession will upend anticipated growth.

Senior executives in India as well as globally also feel markedly more confident about the resilience of the global economy over the next six months (82 per cent CEOs in India compared to 73 percent CEOs globally) than they did in February 2022 (40 percent CEOs in India compared 60 per cent CEOs globally), when KPMG surveyed 500 CEOs for its CEO Outlook Pulse survey. Further, 57 per cent CEOs in India are confident about the global economy's growth prospects over the next three years (up from 52 per cent in February 2022) and nearly 72 per cent CEOs in India are confident about their organization’s growth over the next three years.

Yezdi Nagporewalla, CEO, KPMG in India, said “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. 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.”

“With the increasing pace of change and transformation, CEOs in India have accepted and adapted to the current needs of the modern workforce. It is indeed, heartening to note that CEOs in India are looking to increase measurement and governance to build a more robust and transparent approach towards driving a long-term ESG agenda”  he added.