India to see one of the largest infra programmes of 21st century: KPMG
- IBEF
- November 13, 2024
According to a KPMG report titled 'KPMG 2024 Infrastructure and Transport CEO Outlook,' India is poised to implement one of the largest infrastructure programs of the 21st century among major economies, with the creation of fiscal sources of capital being crucial to this initiative. The report, based on a survey of 120 sector leaders globally, indicates that CEOs in the infrastructure and transportation sector are optimistic about business growth over the next three years, particularly in terms of earnings and headcount. Notably, 57% of these CEOs believe that stakeholder expectations regarding environmental, social, and governance (ESG) issues are evolving more rapidly than they can adjust their strategies.
Furthermore, more than half of the CEOs express concern that a global failure to adapt to climate change will have significant short- to medium-term repercussions on their growth. With declining confidence in governments worldwide, the report highlights that 62% of respondents feel the public is increasingly looking to businesses to address societal challenges. Additionally, 71% of CEOs are willing to divest profitable segments of their businesses if those segments harm their organizations' reputations. A partner at KPMG in India, Mr. Manish Aggarwal, emphasized that the urgency to adopt emerging technologies, such as generative AI, has become a priority for CEOs in the infrastructure and transport sectors. The 10th edition of the KPMG CEO Outlook, conducted from July 25 to 29, 2024, surveyed 1,325 CEOs with annual revenues exceeding US$ 500 million, including a third of the companies surveyed with revenues over US$ 10 billion. The survey encompassed CEOs from 11 key markets, including Australia, Canada, China, France, Germany, India, Italy, Japan, Spain, the UK, and the USA, across 11 major industry sectors.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
