KPMG – India CEO Outlook, 2023

The India CEO Outlook, 2023 by KPMG highlights key insights from CEOs in India regarding the economic outlook, disruptive technology, talent, and ESG (Environmental, Social, and Governance) considerations. Despite geopolitical uncertainty, CEOs in India remain positive about the growth prospects for the global economy. The report shows that 69% of CEOs in India are confident in the resilience of the global economy, slightly lower than the global average of 73%. The CEOs' top concerns include geopolitics, political uncertainty, environmental and climate change issues, disruptive technology risk, and operational and regulatory risks. The report also reveals that CEOs in India are focused on digital transformation and connectivity within their organizations. They are prioritizing investments in generative AI to gain a competitive advantage. However, they face challenges in implementing generative AI, including ethical concerns and high implementation costs. The CEOs also believe that while generative AI can help detect cyber-attacks, it can also create new vulnerabilities for adversaries. In terms of work models, CEOs in India anticipate a return to pre-COVID-19 work models within the next three years, as they believe it enhances productivity and transparency. They are considering incentivizing office attendance by linking rewards, raises, or promotions to it. However, progress on inclusion, diversity, and equity (IDE) has been slower in the business world, with only 52% of CEOs in India agreeing on the slow progress compared to 66% globally. ESG integration is also a priority for CEOs in India, with a focus on building customer relationships. A majority (54%) of CEOs in India have fully embedded ESG into their businesses as a means of value creation. Additionally, 38% of CEOs in India are looking to address environmental challenges, such as achieving net zero, in their investing strategy. Overall, the report showcases CEOs' perspectives on key areas such as the global economy, technology adoption, talent management, and ESG considerations in India's business landscape.