Unemployment has refused to subside ever since the pandemic began. However, a recent survey of 136 CEOs from across India comes as a rare piece of good news for job aspirants in the country.
In the poll conducted by Confederation of Indian Industry (CII), the majority of the CEOs were found to be expecting improved job creation prospects in the near future (first half of financial year 2023) in their companies. The optimism comes despite expectations of monetary tightening.
The poll conducted at CII’s Second National Council Meeting for FY23 also found out that a majority, 57 percent CEOs expect GDP growth in the range of 7-8 percent, while 34 percent expect a growth below the 7-percent mark.
Around half of the CEOs (49 percent) expect rural demand to improve compared to the same period last year. 44 percent CEOs were upbeat about their companies growth reaching between 10-20 percent in the first half of FY23. 32 percent expect their company’s growth to cross 20 percent.
On the profit front, 45 percent expect a growth of over 10 percent while 40 percent have been less optimistic, anticipating a number equal to or less than 10 percent.
“The CII CEOS Poll results clearly demonstrate the resilience of Indian industry and the positive business performance outlook both on domestic as well as exports front despite challenges of high inflation leading to monetary tightening, rising input prices and uncertain global economic conditions,” said Chandrajit Banerjee, Director General, CII.
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