Despite growing geopolitical tensions, the Chief Financial Officers (CFOs) in India are exhibiting a considerable improvement in confidence with respect to financial conditions and macro-economic factors.
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A recent survey of CFOs in India, conducted by Dun & Bradstreet India, revealed that India’s composite Chief Financial Officers (CFOs) index has increased to 103.7 in Q4 2023, 9.1 percentage points higher on quarter-on-quarter (q-o-q) basis.
It was noted in the survey that the overall optimism for financial performance stands at 99.0 in Q4 2023 which is the highest in 8 quarters. However, the optimism for overall macroeconomic scenario, has decreased for the industrial sector by 6 percentage points (QoQ). Moreover, the optimism for global macro-economic scenario has also moderated, as 33% of the respondents anticipated a decline in Q4 2023, compared to 37% in Q3 2023.
According to the survey, 52% of CFOs are optimistic about the requirement for short term funds in Q4 2023, which is the highest since 2012 when the index was launched.
The survey also found that 52% of CFOs are optimistic about the availability of funds in the market in Q4 2023, this is the highest in 11 quarters. About, 42% of CFOs in the industrial sector expect the operating margin of the company to decrease in Q4 2023, which is 9 percentage points lower than Q3 2023.
Dr Arun Singh, Global Chief Economist, Dun & Bradstreet, said, “Despite escalating geopolitical tensions stemming from the Israel-Hamas conflict and the existing global financial strain from high interest rates and increased risk, domestic CFOs’ confidence remains steadfast. CFOs exhibit heightened optimism compared to the previous quarter, forecasting enhanced business activity and a positive financial ouDun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance.
Dun & Bradstreet is a leading global provider of business decisioning data and analytics. It helps companies across the world to improve their business performance.
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