CEOs: CEOs anticipate 10% hit to revenue from a recession

MUMBAI: A big majority of CEOs in India – 86% – predict that over the following yr, recession will impression firm earnings by as much as 10%. On this yr’s KPMG India CEO Outlook, the place over 125 CEOs in India mentioned their methods, 66% anticipate a recession to hit over the following yr, however 58% leaders anticipate the recession to be “delicate and quick”.

In response to the findings, 62% CEOs in India consider {that a} recession will upend anticipated progress, with round one-third of the CEOs saying their firms have additionally carried out a hiring freeze. Nonetheless, taking a longer-term view, 79% CEOs anticipate their organisation headcount to extend over the following three years.

“Be it the enterprise ecosystem, or provide chain or points pertaining to expertise, the character and magnitude of those challenges has altered dramatically and what issues is how agile enterprise leaders are to reply. CEOs in India surveyed seem assured of their organisation’s resilience, additionally they appear to have ready themselves to profit from the present setting, introduced on by the promise of expertise, expertise and ESG,” mentioned Yezdi Nagporewalla, CEO, KPMG in India.

Senior executives in India exude extra confidence in regards to the resilience of the worldwide economic system over the following six months (82% CEOs in India in comparison with 73% CEOs globally) than they did in February 2022 (40% CEOs in India as towards 60% CEOs globally), when KPMG surveyed 500 CEOs for its CEO Outlook Pulse survey.

Sunil Kataria, CEO of

‘s Life-style Enterprise, mentioned, the resilience of Indian companies have elevated considerably with respect to any international macro elements because the Covid shock served as a detox for all companies and led to hunting down of price inefficiencies, creation of extra optimum future practices and processes like adoption of digital applied sciences, and identification of latest vectors of progress that may stability out core enterprise fashions.