KPMG survey: Two out of three CEOs in India bracing for recession

“While globally, you have a larger proportion of people that we interviewed in the survey, believe that there will be a recession. In India, that proportion is smaller, it's about two-thirds, globally it was 86 percent. While there is consensus that this recession will be shorter and milder as such,” Nagporewalla said.

According to the survey, CEOs in India are also more confident about resilience of the global economy over the next six months compared to global CEOs. But that is not to say that CEOs in India are without their share of worries.

“CEOs in India, they recognize it and they are watching it as it advances. Some of the aspects of the plan — including some of the CEOs that I have interacted with — it's around talent, technology, where you start looking at talent differently, and spend time more on trainings, etc," the KPMG CEO said.

Pandemic fatigue, inflation and anticipated recession are some of the key concerns inside the boardrooms. Reiterating the same, Nagporewalla said, “It is actually a pandemic fatigue, coupled with the economic outlook, coupled with the kind of challenges CEOs are facing with these days. These are all unprecedented, whether its geopolitical aspects, whether it's inflation, India always had inflation and now this is a global inflation phenomenon.”