The Indian CEO: Navigating challenges, but looking ahead towards a confident India

Being a CEO in these times is no walk in the park. Today’s global and domestic economic reality throws several challenges for the chief executive to deal with, and unless the leader has a vision and gets the organisation—down to the last guy on the field—to follow it, winning is going to be a distant dream. Consider the issues the CEO has to navigate today—rising inflation, interest rate changes, supply chain disruptions and geopolitical tensions. And these are just some of them. Alongside, there are also changes in regulations and a very long list of compliances they have to contend with. That’s precisely why the latest BT-PwC India’s Best CEOs ranking is so important. The 20 leaders who are winners have not just led their organisations—of various sizes and sectors—with aplomb, they have done so keeping the interests of shareholders, customers and employees firmly in mind. The winners were selected by a high-powered jury chaired by Piramal Group Chairman Ajay Piramal, based on data validated by PwC India.

Even as these leaders navigate choppy waters, the common theme is that of enormous confidence in the India story. India, they know, is now firmly on the path to claiming centre stage on the global economic landscape, and they are keen to be part of that narrative. As the India highlights of the 26th PwC Annual Global CEO Survey show, 57 per cent of the CEOs surveyed are optimistic about India’s economic growth over the next 12 months. And they know that in these rapidly changing times, their organisations must transform and constantly innovate to emerge winners. Consequently, 60 per cent of the Indian firms in the survey are currently innovating new, climate-friendly products or processes. If Indian CEOs continue on the path of transformation, digitalisation and innovation, India will be an unstoppable economic power in the days to come.

Speaking of leaders, our Business Icon of the Year, Natarajan Chandrasekaran, Chairman of the Tata group, epitomises the power of transformation. Having taken charge of the iconic and storied House of Tata during turbulent times, Chandra, as he prefers to be called, is rapidly transforming the $128-billion group into a nimble, responsive organisation that is creating new businesses even as it re-engineers the older ones for the new age. As Chandra tells us eloquently: “Without evolution, traditions die; and without traditions, evolution is meaningless.” Another iconic business leader, who is our Lifetime Achievement Award winner this year, is the peerless Nandan Nilekani, who has made a mark in every single role he has played in the business world, from leading Infosys, first as CEO and now as Chairman, and then heading the Unique Identification Authority of India, which rolled out the now ubiquitous Aadhaar ID. Nilekani, who is truly an agent of change and has played critical roles in other key national digital initiatives, tells us succinctly: “I’m a plumber. I fix things.” India needs Nilekani to continue playing this role for many more years.