93% of Indian CEOs Expect to Increase Their Headcount, KPMG Finds

A recent survey by KPMG, the 2024 India CEO Outlook, has revealed that seven out of ten Indian CEOs foresee substantial obstacles to business growth over the next three years. This study, involving 125 top executives from across India, identified the most pressing concerns, including the rising cost of living, intricate trade regulations, cybersecurity risks, and talent shortages.

As these leaders grapple with both internal challenges and external threats, such as geopolitical instability and political unpredictability, operational complexities have surfaced as a key area of worry. The report highlighted that 16% of Indian CEOs, compared to 10% last year, now view operational issues as the biggest risk to their organization’s expansion. Globally, 14% of CEOs share this sentiment. Much of this concern stems from the rapid advancement of disruptive technologies, which CEOs find increasingly difficult to keep up with.

Moreover, reputational risks, particularly those related to a disconnect with customer and public sentiment, are becoming a primary issue for Indian executives. Cybersecurity threats, technological innovations, and climate change also continue to rank high on their list of challenges. These evolving risks are forcing Indian CEOs to reassess their strategies to ensure their businesses remain resilient.

Yezdi Nagporewalla, CEO of KPMG in India, commented that in addition to external pressures like AI adoption and geopolitical uncertainty, internal factors such as workforce upskilling and adapting to hybrid work environments are pushing CEOs to be more flexible and responsive to stakeholder demands. He noted that those who embrace technological advancements and invest in the right talent are likely to achieve sustainable, long-term growth.

Confidence in the global economy’s growth prospects has surged among Indian CEOs, with 80% expressing optimism for the next three years, a notable rise from 69% in 2023. This optimism extends to workforce expansion as well, with 93% of Indian CEOs expecting to increase headcount, slightly above the global average of 92%.

Have you read?
World’s Most Fashionable Countries.
World’s Best Countries For Business Expats.
Best Non-Native English Speaking Countries In The World.
Countries With The Largest Household Size.
World’s Best (And Worst) Countries For Older People To Live In.