75% of CEOs see moderate or no impact of war on economy
Three-fourths of CEOs and business leaders polled in an ET survey see moderate or no impact on the Indian economy from the Russian invasion of Ukraine, with over half of them expecting a top-line growth of over 15%. Over 70% of 40 CEOs surveyed want the government to slow down fiscal consolidation to support growth and 60% do not see the geopolitical situation impacting their capital expenditure plans.
More than half of those polled see the price of their products or services rising over 5% due to higher input costs and other impacts of the war- 32.5% expect a price rise of 5-10% while 25% see over 10% increase. The poll responses are from 40 CEOs across the manufacturing, services and infrastructure sectors. Over a third see GDP growth in the range of 7-8% in the next fiscal, in line with independent economists, while 27.5% expect the economy to rise over 8%.
The Russian invasion of Ukraine has destabilised global financial markets, sent commodities and crude prices surging, firmed up bond yields and caused inflation to accelerate to records in the developed world.
Emerging markets, including India, have seen sharp capital outflows and currency depreciation, while prices are ticking up.
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