MUMBAI: CNBC-TV18, in association with Confederation of Indian Industry, conducted the CNBCTV18-CII CEO poll that surveyed 250 of the country’s leading CEOs amid lockdown.
The extensive survey, touted as India Inc.’s biggest survey poll on the lockdown, deep dived into the post-lockdown actions from some of the biggest names of India Inc. The survey provided a clear picture regarding multiple areas that concern the Indian economy and business operations at large.
The show revealing the findings of the survey was hosted by CNBC-TV18 managing editor Shereen Bhan. Along with her, four industry bigwigs discussed the findings of the poll and presented their opinions and key analysis.
The special show featured the likes of State Bank of India chairman Rajnish Kumar, Standard Chartered Bank India CEO Zarin Daruwala, Jubilant Bhartia Group founder and co-chairman Hari S Bhartia, and CII director general Chandrajit Banerjee offering their respective views on discoveries of the poll, thereby commenting on the challenges and opportunities that lie ahead for the nation.
The comprehensive survey encompassed 15 questions asked to 250 CEOs across various sectors. The findings revealed that 76.8 per cent of head honchos felt that it is time to move to a calibrated exit from the national lockdown whereas 85.9 per cent believed that a graded exit will be beneficial.
Even as several companies have started to lay off their staff and imposed salary cuts, 71.2 per cent still opined that layoffs are not imminent in their organizations; however with 34.1 per cent leaning towards looming wage cuts.
Asked as to when businesses will return to normal, 54.4 per cent said they expected operations to resume anywhere between six months to a year, while 29.2 per cent opined it could take more than a year.
While 33.5 per cent felt that the recovery will look convoluted, 28.6 per cent said it will recover with a positive trajectory; however 25 per cent expected a very minimum recovery. Overall, one of the major findings of the poll indicated that about 50.6 per cent of India’s CEOs expect their company’s top line to fall by more than 25 per cent in this FY.
With the nationwide lockdown being extended for another two weeks, the movement of people as well as the economy continues to face severe limitations and restrictions.
