PwC： 2024 The 27th annual Global CEO research Indian report： flourish in continuous management innovation (English version) (p. 34) .pdf

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27th Annual Global CEO Surveyindia Perspectivethriving in An Age of Continuous Reinvent 227th Annual Global CEO SurveyindForework SSES in India, 2024 HOLDS Promise.optimism Voiced by Business The Impeatic to Embrace Change,MOST CEOS POLLED SAID The YEY HAVE Started Taking Concrete Steps Toward Reinvention to Remain Resilient.indias Air of Positivity is Being Felt Across the World CEO SURVEY ShOWS that India Has Risen to the Fifth Position as an InvestmentThe ninth pose it helps, despite the year of global macroeeconomic headwinds influding a pandemic imageSses and Conflic TS In EUROPE and WEST Asia India is looking at Robust Group,Though Unlike Their VisiBly Upbeat India Count’s They Are Still Somewhat Cautious in their Predicts for the Year.as Per Our Survey Results, 86OF in DIA CEOS SAID The YEY BELIEVD The Indian Economy Would IMPROVE As Against 44of Global CEOS WHO BELIEVED This About their Resribers.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.itories.WAS Against This Backdrop Defined by Positive Trends in the Indian Economy That The 27th Annual Global CEO Survey Was ConduCtend.pwc Surveyed CEOS S 105 Countries and Territories, 79 of Whom WERE from India.41of India CEOS Represented Privately Owned Companies; 59Were from PubliclyListed CompaniesUdabur Investment. Sector-Wise Break-Up Showed that the Larget Number of Business Leaders WEERE from the Industrial ManuFacturn and Automotive SECTOR24, and Con Confae Sumer Security24, Followed by Financial Services16, Energy, Utilities and Resources15, Technolog, Media and Telecommunications11,And HealthCare 10.327th Annual Global Global Ceo Surveyindia PerspectiveKeKey India Findings.almost 9 Out of 10 India CEOS BELIEVE THE Indian Economy Economy Improve .7 Out of 10 India CEOS Are Very Confident About their Companys Prospects for Revenue.growth Over the Next Three Years.Changing Customer Preferences, Agree India CEOS, is the top reinvention driver.cyber and health risks along with inflation are the three three that Generative AIGENAI, India CEOS Anticipate, Will Deliver Significant Top-And Bottom-Line.Benefits and Enhance Their Company that Build with Stakeholders.For India CEOS, The Top Thr Ee Reinventions to Create, Deliver and Capture Are.adopting New Technologies.Developing Nivel PRODUCTS/Servicesing New Strategic PARTNERSHIPS.EVIDENTLYBusiness Leaders Are Taking Proactive Steps to Ensure Long-Term Business Viability As they Mobilise Resources to Deal with Two Megatrends Climate CHAND Tete ChNOLOGAL DISRUPTIONS, PARTICularly Genai.This Years Report, therefore, is.Built ar own themes that emerge from the surveingSindiasGrowth StoryReviews The State of the Indian Economy, India Market and Factors.That Account for the Long-Term Viability of Business Models.impedus To InES Two Megatrends, Climate Change and Technological.disruption Caused By Genai, that Compel FURTHER Reinvention.Roadmap to Reinvent 18four essential actions to jumpstart continuous reinvention.With the Indian economy looking up and Indian company heads exploring new ways to advance growth,the survey underscores what it will take to stay the course.Sanjeev KrishanVivek PrasadChairperson,PwC in IndiaPwC India Markets Leader427th Annual Global CEOSurveyindia Perspectiveindias Growth StoryThere is good reason for the climate of cheer among india CEOS, for Internetal, domstic and government bodies have all Underscored Indias Strong GDP Growth.the India Development Update,1 The World Banks Half-Yearly Report on the Indian Economy, Observed in October 2023 that Despite Significant Global Challenges, India WAS OF The FASTSTEST-GROWIN G Major Economies at 7.2in FY 20223.ITS Growth Rate was the Second-Highest AMONG G20 Countries.According to Official Figures Released in November 2023,2 The GDP GREW BY 7.6in The SeptEmber Quarter Significantly THAN THE 6.2Rcorded During This Period in 2022.This Rise was propelled by Strong Growth in Sectors Including Mining, Construction and Manufacturing on A LowBase.The Index of Indrial Productioniipalso ReCorded A 16-MONTH HIGHHIGH of 11.7In October 2023.The Projects May Vary But there is University About Industs S try GDP GROWTH.IF The Predictions Follow Through, The Indian Economy Will Remain Res ESPite Global Challenges in FY202425.Now the Worlds Fifth-Larget Economy, India Is Likely to Become the Third-Larget by 2030 with A Projectd GDP of USD 7.3 Trillion, According to S54SAID IT IT IT IT IT IT IT IT It Willd increase the space of misination, about 39believed it would increase bias towards special groupsOf Customers or Employees.pwcs 2024 Global Digital Trust Insights India Edition Survey Also Voiced Similararns.around 73OF The Respondents Felt That Genai CNAI OULD Lead to Catastrophic Cyberattacks in the Next 12 MONTHS, While 99SAID the HAD Increased their Cyber Budgets.33when It Comes toGENAI RISKS, India CEOS Are Most Concerned About CybeRSECURITY Questionto What Exar Agree or Disagree That Genai is Likely The FolLowing In Company in the Next 12 Months725279CyBersecurity RiskSpream of MisinationLegal Liabilities and Reputational Riskbias Towards Specific Group Customers or EMPChennai Stock. Loyeesindiagreeneither Agree or Disagreedisagreedknow32 PWC, India Workforce Hopes and Fears Survey 202333 PWC,2024 Global Digital Trust Insights-INDIA EDITION2427th Annual Global Global CEO Surveyindia PerspectiveBut Theres Good News Too.genai Cyberattacks/ INCIDEENTS as it is strong at synthesising large amounts of data from multiple systems and sourceStrategies and Present Complex Threats in Simple Language.Adoption of Gene itFore Needs Careful Planning, Quality Training Data and Tight CyberSecurity Protocololol S.employees Must be UPSKILLED and Trained to work with this new tech to minimise risks and option benefits .organisicationThe Help of Technology Need to Build Trust within the Design of that Technolog.For Instance, Implementing PWCSDEWORLAMEWORL Address Risks Iated with the use of the genai Such as data privacy concepts, bia and infuracy.34.reinvent Business Modelindia Ceos are onTheir toes and recalibration.their top Three Reinventions Over the last Five Years are the Adoption of New TechNologies, Development of Products and Servi CES, and New Strategic PARTNERSHIPS that Enhance Capabilities.Such PARTNERSHIPS Are Critical in a Fast-Changing Environment.Research35SUGGGESTS that companies can fulfil Customer Needs by Working Across Industry Boundaries.34 PWCS Responsible AI35 TAPPING Obal CEO Surveyindia Perspectop Three Reinvention Actions for India CEOS Are Adopting New Technology gic partnerships to create, Deliver and Capture Value Questionto What Extent Have The Following Actions IMPACTD The Way Your Company Creates,Delivers and Captures Value Over The last Five Years484637325255indiadOPTED New Technologies for Ourfirm CapabilitiesDevelopment No Vel Products/ServiceSed New Strategic Partnershipsthat ENHANCED OUR CapabilitiesDeveloped A New Technology In-Housemade PabilitiesImpleMented Novel Pricing Modelssold or Closed Down BusinessHifted from a Global SUPPLYChain Model toA Regional Oneto A Large/Very Large Excentnot At all or to a very, Search36 Also Indicates that Higher Levels of Annual Reality are associated with Greter Reinvention and Programmatic Mergers andAcquisitions can be a peernce enhancer.on this count, india CEOS, While ACKNOWLEDGING A Conservative Start, say they plan to bring in their aon.around 52SAID TH Ey Planned to make at Least One Acquisition Over the Next Three Years Indicating that this ofAn Essential Element of their Business Model Reinvention.36 StrategyBusiness, OverLooked Power of Day-TO-DYNAMISM2627th Annual Global Global Global ErspectiveQuestionHow Many Acquisitions is your company plainning to make in the next three Yearsquestionwhat of your company cause o you and your managementTeam Reallocate Across Your Business from Year52of India CEOS Plan to Make One or More Acquisitions Over the Next Three Years, ROWTH As PART of their Business Model Reinvention72of India CEOS Reallocate More than 10of their Resources year to yearIndicating a Greater Degree of Reinvention 255223266050607001 or Moredont Knowingiaglobal25723286750070808010OR LESSMORE S of India CEOS To Reinvention is Also Indicated by 72Saying They Realocated More than 10of their Company and Human Resources from Year Compared to 6 7of Global Ceos.Realign Expectations in ResponseTo Climate PRIOREITIESINDIA RANENKED Seventh on the CLIMATE CHANGE PRANCE Index 2023, Up One Spot from the Previous Index, and It Also Remaind the Highest .37 Still, The Indian Industry Fast-Paced Change to Make It Posesible for the Country to MeetITS Nationally Determined Contributionsndcs.37 India Rank 7th On Climate Change Prance INDEX 2727th Annual Global CEO Surveyindia Perspect of the STE ps to be taken inflene Towards decarbonisationthe developmentthe, cheap and adequate non-fossil fuel-sentence power, ites efficient distribution and OTHER bottl EnecksRemain, Forcing INDIA CEOS to Recalibrate Their Expectations on Climate Action.The Issue of Fossil Fuels Occupied Center at the Cop28 Climate CHANGE t in dubai in lat novemberrly December 2023, with controlling to pHase out FOSSIL fuels.38 However, The GlobalAlRate of Decarbonisation Remains Far Too Slow.Recent Pwc Research Finds that the World Needs to Decarbonise Seven as Fast As the Curren Rate Warming To.5c AB OVE Pre-InDrial Averages.39TechNology the Will Play A Critical Role in Decarbonisation.althoogh TheeNeed for climate technology constinues to rise, equity investment in start-ups have been, of India CEOS SAID THER Companies Had Accept LOWER RATES of Return in The Past 12 Months While Uating Climate-Friendly Investments.38 Cop28 Summit39 PWC, Net Zero Economy INDEX 202340 PWC, State of Climate Tech 2023Campbell Wilsonceo and MD,Air Indiawe Subscribe to the International Air Transport Associations Net Zero by 2050 Community, and AirCraft that Air India is buoying on Bl Ended Sustainable Aviation Fuelsaf.however, The Key to Saf Being A MeaningFul Solution is for it to be Produced and Deliveredat a Much Greater Scale, so that it becomes count-competitive; presently, it is four times the price of regular aviation fuel.achieving net zero will be a ED Effort Spanning Saf, Technolog, Carbon Office and More, But the targetOf Net Zero is a CLAR FOCUS for Air India and the Industry at Large.2827th Annual Global Global CEO Surveyindia Perspective54of India CEOS HAVED LOWER RATES of Return on Climate-Friendly Investments in The Last 12 MonthSquestionin The Last 12 Months, When Uating Climate-FriendlyInvestments, has your company accepted rates of Return that low for Other Invests544060yesindiaglobalindia, Etween Those Who Felt Constrained and Those Who Did Not in their Decarbonism Eraate and Large/Very Large Extent.in Comparison, 46Found Regulatory Complexities Had Limited or No Effect at all on their decarbonisation effects.again, on the lack of Climate-Frien Dly TechnologyNo Impact.2927 Annual Global Global CEO Surveyindia Perspectiveindia CEOS Are Split Fairly Equally Between Those Who and Do NOT Feel Constraied Instraied Instraied bonisation effects*questionto what extent, if at all,Are the Following Factors Inchibition Your Company to Decarbonise ITS Business Model2024242424242043008090909090909090909090909090909090909090ReguLotyLower Urns Forclimate Investmentslack of Climate-Friendlytechnology for my sectorlalack from the demanderslackerslackerslack ENT Team or The Boardindiat A Large/Very Large Extensto A Modrate ExtensNot ATAll or to a very limited extentDontnTowto a Limited Extent*Responses considerd-very large, large and moderate exitrtunities to InnovateClimate SKS Also Offer An Opportonity to Innovate.clImate Mitigation and Adaptation Efforts Will Generate Demand for Products And Services that Help BusinesssesCommunities, and Ecosystems Adapt and Build Resiliation to Climate Risk.indian Business and IndustryMumbai Wealth Management. ONS Can Weather the Costs of Climate CHANGE ACTION and TURN THEM Into Opportunities.3027th Annual Global Global Global Global Global Global Global Global Global Global Global Global Global Global Global CEO Surveyindia Perspectivekekeep Your AntennaeupA few key areas where CEOs need to rcise vigilance include cybersecurity and health risks.The survey indicates that their concern regarding both these heads has increased by 10and 6respectively over the past one year.Many business leaders are proactively addressing cybersecurity and health crises emerging from blackSWAN Events Such as Pandemics Through Diverse Risk Management Approaches.Install GuardrailSintegrate Planario Planning Inton ENTS, Coupled with Crisis Plans, is an effect way to prepare well.at present, there is an emphasis on agile risk management,Highlighting Adaptability and on Foscture A Responsive Organisizational Culture.comPanies Are Also Focusing on Industry TO Share and Learn Evolving K Management Approaches to Enhance Resiliation.The Key Lies in Adopting A Comprehensive and Dynamic Approach that Develops Alongside The Changing Scenarios Use of Black Swan Events.India CEOS BELIEVE CYBER and Health Risks Have Increased Over The Last One Year, as compared to inclace, Believe Your Company Will Be to the Follow Key Threats in the Next 12 Months28232837292720208412024inflaECROECONOLITYCYBER OliticalConflictClImate Changehealth Riskssocial Inequality352840322222222222223InflationMacroEconomicVolatedIntyber lconflictclimate Changehealth Riskssocial InequalityExtRemelyHighlyhlyryExposedModerately ExposedMinimally Exposed KnowsLightly Exposed3127th Annual Global CEO Surveyindia Perspective41 The Silent Killer of NEW PRO Ducts34of india Ceos, as Against 42of Global CEOS, Attribute More than 20of their Total Sales to New PRODUCTS Or Services INTRODUCD in The Last Three Years ESTIONWHAT PERCENTAGE of Your Company Total SalesFrom this year are attributable to New Products or Services Introiduced in the Last Three Years602030506070020more than 20dont Knowindiaglobalon The Other Han D, a healthy work is essential for Exponential grewth, and companies are now looking at Healthcare Benefits as an Important Incention and Andenti on of embroyees.Monetise innovovive proputs and servicesBusiness Leaders Also Need to Ask themSelves.is My Product Aligned With Changing Consumer PreferenceS.is My Innovat ION MONETISABLESEVENTY-TWO PER Center of Innovations Fail to Meet their Financial Targets or Fail Entirely.41 Common Reasons for FailudE PITHToo Many Unwanted Features, An Innovation No One Asked for,OR A PRODUCT PRICED So Low It Cant Meet Its Revenue Targets.while Indian Companies have been bertter than their global counterParts in many aspects, The Latter Have B Een Able to Monetise their Innovative Products Better.around 34of India CEOS Attribute More than 20of their Total SalesTo New Products or Services Intropuced in the Last Three Years.new and Innovative Products Are ESSENTIL ELEMENTS ALONG With CHANGES In Business OCESSSES.INDIA CEOS TheReface Need to Find Ways to Monetise Their Innovative Products More Effectively, Through Improved Value Proposity eting.3227th Annual Global Global CEO Surveyindia PerspectiveMaintaining The Momentumthe Efficience and Success Leaders Rest on their Ability to Foresee Ge, PriorIient their choices for reinvention, and adapt with agility and skill.reinvention -LeadEd to shift focus to critical leadship ES SUCHAS the Following42expand Cutive Teams to Include Experts in Areas Critical to Such as Climate.regulation and Genai.introdu UTIONS TOGETHER As Unfamilia PROBLEMS Arise, .specially with New Technology and Climate Change Action.Comical The Urgecy Within theOrganisation.find ACKNOWLEDGINGING CONCERNS, Encouragging Employees to ADAPT.Reward Openness to Learning Trust.42 Configuration imageCampbell Willo and MD, Air Indiatrust is the Bedrol Just For the Customer But Also for the EmplayeeholderIn our ecosystem.There is a Strong Interplay in the Relationships and EACH of Those Relationships is Built on ENMPECTATATATION.Like CEOS de, India CEOS Musting Look at Continuous Reinvention to Deal with Disruptions and Barriers,And Turn Challenges Into Opportunities in a Fast-Changing LandScape Impactinuously by New Technology and Climate CHANGE.BUT India Ceos Have E Advantage in that they operated in one of the worlds fasesthatest-grawing major eConomies and a favoured investmentJaipur Investment. THEY May ThusBe Better Placed To Reshape the Future of their Organisations.3327th Annual Global Global CEO Surveyindia PerspectiveContributors Dr Rana Mehtarane BanerJeepartner AN D Leader HealthCarepartner, Economic Advisory Services and Gover NECTOR Leader Indranil Mitra, PH.D Managing Director, Advanced Analytics, Sambitosh Raai and Genaipartner and ESGL Joseph Martin Chazhoor Francismanu Dwivedisenior Director and ESG Markets Leaderpartner and Leader, Cyber Srajnil Mallik Somick Goswamipner and Leader, Advance D AnalyticsPartner and Transition Leditorial Teamvishnupriya Sengupta, Dion Dsouza, Ruchika Uniyalal and Sourav Mannadesigna Saxena27th Annual GL Obal CEO Survey Pwc.indata Classificationdc0publicin This Document,PWC Refers to PriceWaterhousecoopopers Private Limited Limited Liability Company in India Having Corporate Identity Number Or H is a member firm of PriceWaterhousecoopers International LimitedPWCIL, Each Member Firm of Which is a selerance Legal Entity.this DOES NOT Professional Advice.the INThis document has Obtained or Derived from Sources Believed by PriceWaterhousecoopers Private LimitedpWCPLTO BELIABLE But PWCPL DOES NOT RePRESENT This instantion is account or Complete.any Opinions or Estimates containing in this document replace.Without notice.reams of this publication are advied to seek their own professional advice before tacking any or decision, for the ntirely Responsible,Based on the Contents of this publication.pwcpl neither accepts or assumes any Responsibility or Liability to Any Reader of this publication in Respect E finding Within It or for Any Decisions Readers May Take or Decide Not to Or Fail TAKE.20224 PriceWaterHousecoopapers PrivateLIMITED.ALL RIGHTS Reserved.ks/January 2024-MC 34250