India emerges fifth most attractive market for investments globally
23 January 2018
India has emerged as the fifth most attractive market for investments and the optimism over global economic growth is at a record level, according to a survey of CEOs by global consultancy by PwC.
The findings come on a day when the rich and powerful are meeting in Davos for the start of the annual summit of the World Economic Forum (WEF).
"The US remains the top spot for global investment, while India moves into the top 5," PwC's 21st CEO Survey said, adding that optimism among chief executives in the economic and business environment worldwide is expected to continue at least over the next 12 months.
According to 46 per cent of global CEOs, the US ranks among the three most important countries for growth, followed by China (33 per cent) and Germany (20 per cent) at second and third places, respectively. The UK (15 per cent) stands at the fourth spot.
"India (9 per cent) bumps Japan (8 per cent) as the fifth most attractive market in 2018," it noted.
According to PwC India chairman Shymal Mukherjee, backed by definitive structural reforms, the India story has been looking better in the past one year.
The survey found that 53 per cent of North American CEOs were 'very confident' about their own organisation's revenue growth in 2018, while it remained a mixed bag regionally, with a higher number of CEOs from North America, Latin America, Central and Eastern Europe, and Asia-Pacific saying they were 'very confident', and the rest of the world moving in the opposite direction.
The report points out that while the rest of the world is cautiously optimistic, North American CEOs have never been more sure of their companies' near-term prospects.
The survey also assessed the threats CEOs have in relation to their organisation's growth prospects, with over-regulation topping concern globally at 42 per cent, (41 per cent) and cyber threats (40 per cent) moving up even as uncertain economic growth and exchange rate volatility moved down as against last year.