Businesses want more consistency in regulations across borders.
Economic growth is barely noticeable in most parts of the developed world. Britain’s possible exit from the European Union has created fresh challenges for policy makers. China is in the midst of internal economic readjustments, and India seems to be one among the very few bright spots in terms of growth potential. In an exclusive interview to Business Today’s Joe C. Mathew and Rajeev Dubey, John B. Veihmeyer, Global CEO of KPMG, explains why global CEOs perceive India as a high-growth market worthy of investments, the possible fallout of Brexit, and more. Excerpts:
Has the global economy started recovering?
We just released our global annual CEO survey, and it has a pretty optimistic view from CEOS about prospects going forward. Compared to last year, of the over 1,300 CEOS in 10 countries that we surveyed, above 80 per cent are very confident about the growth prospects of their companies in the next three years. Since this was in the low 60 per cent a year ago, it shows the confidence CEOS have in their ability to transform their companies and make use of the opportunities the marketplace provides. So, it’s pretty optimistic.
Are growth prospects in Asia and Africa the reasons for this optimism? Or does this include developed countries as well?
Optimism exists across regions.
How is the (Narendra) Modi government seen in the US and other markets? How far has India become easier to do business with?
The perception of India outside India has been very positive. Prime Minister Modi has been a key contributor to that increased positive perception. Just from the US perspective, he has been very engaged, very active. Visible, accessible to US business leaders and, frankly, he has done a very good job of creating a perception of confidence in the growth and the opportunities in India.
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