India is on track to launch one of the largest infrastructure initiatives among major economies in the 21st century, with a key focus on creating fiscal sources of capital, as outlined in a KPMG report. According to the ‘KPMG 2024 Infrastructure and Transport CEO Outlook,’ a survey of 120 global sector leaders reveals that CEOs in the infrastructure and transportation industry are optimistic about business growth in the next three years, including increased earnings and workforce expansion.
However, the report highlights that 57% of CEOs believe stakeholder expectations around environmental, social, and governance (ESG) factors are evolving faster than their strategies can adapt. Additionally, over half of the CEOs are concerned that a global failure in addressing climate change will have a significant impact on short- to medium-term growth.
With declining trust in governments worldwide, 62% of respondents feel businesses must step in to address societal challenges. A significant 71% of CEOs are even willing to divest profitable parts of their business if they damage their organization’s reputation.
Manish Aggarwal, Partner and Co-Head of Deal Advisory at KPMG in India, emphasized that the growing importance of adopting emerging technologies, such as generative AI, has become a top priority for CEOs in the infrastructure and transport sectors.
The 10th edition of the KPMG CEO Outlook, which surveyed 1,325 CEOs with annual revenues exceeding USD 500 million, offers a detailed look at the strategic priorities of leaders from 11 key markets, including India. The survey also indicates that a third of the companies surveyed have annual revenues over USD 10 billion.
