India one of the most important country for future growth: PwC

New Delhi, May 5 (PTI) Executives across the world
perceive India as one of the most important countries for
future growth and a key source for products and raw materials,
says a survey by global consultancy firm PwC.
According to the PricewaterhouseCoopers 14th Annual
Global CEO Survey, which covered 1,201 chief executives in 69
countries, India remains a key area of importance.
India was named by 18 per cent of CEOs as the most
important country for future growth, trailing only China (39
per cent of CEOs), the United States (21 per cent) and Brazil
(19 per cent).
"The international attention should come as no
surprise. India grew faster than 5 per cent per year in the
crisis years of 2008 and 2009, and was the 10th fastest
growing economy from 2006-2010," PwC India Chairman Deepak
Kapoor said.
The survey further said that India, along with China
and the US, was seen as the most important future source for
products and raw materials.
"India is no longer 'the world's call centre', as some
had taken to calling it; it's a key market and supplier, and a
vital source for talent, knowledge and innovation," Kapoor
added.
Meanwhile, the survey which covered 60 Indian CEOs
found that Indian executives were either 'somewhat confident'
or 'very confident' about their company's prospects for
revenue growth over the next 12 months.
Indian CEOs are also upbeat about their domestic
market. As many as 80 per cent of the see India as having high
potential for growth, versus 37 per cent of global CEOs of
their respective home markets.
"A few years ago, India-based multinationals spent a
lot of time selling in overseas markets. Now, with the
strength of India’s economy in spite of the global recession,
they’re spending time closer to home," Kapoor said.
China was named by half of the polled Indian CEOs as
one of their top three growth markets. While developed markets
such as Germany, Japan and the United States were viewed as
important, Indian CEOs also stressed emerging economies such
as Brazil, Indonesia, Vietnam and South Africa as key
destinations, PwC said.
A majority of respondents believe that Poor countries
such as India can also benefit from public-private
partnerships, where 88 per cent of CEOs responded that the
inadequacy of basic infrastructure was a threat to growth.
The Indian government aims to increase investment in
infrastructure to more than 9 per cent of GDP by 2012.