India’s Gross Domestic Product rate for the first quarter (April to June) of the financial year surged to 8.2 percent, the government announced this last week. The Confederation of Indian Industry (CII) organized a CII CEOs snap poll; the results highlighted that India’s economy is robust.
According to the CII CEO Snap poll, more than 70.5 percent of the participants plan to increase recruitment this financial year with over 44 percent substantially raising investments.
While 18 percent of CEOs expressed that there will be no such change in the hiring plans and 9.8 percent pointed out a decrease in the hiring plan this fiscal. Rest 1.6 percent was not sure about the upcoming trends.
CII CEOs Snap Poll held on 1st Sept 2018 in New Delhi interviewed 71 CEOs on their opinion about the economic growth rate for the FY 2018-19. Majority of CII CEOs see the GDP growth between 7.25 percent-7.50 percent.
These leading chief executives are betting big on revenue part, 47 percent of the CEOs polled predict revenue growth between 10-20% during FY 2018-19. While 25 percent felt there would be no change in the growth of the revenue while other 25 percent is worried about the revenue growth and according to them it may decline less than 20 percent this fiscal year.
According to a media report, 71 CEOs from across the industry participated in this survey. Some of the CEOs were Rakesh Bharti Mittal from Bharti Enterprises, Uday Kotak of Kotak Mahindra, TV Narendran of Tata Steel and others.