Despite the existing skills gaps in the industry, Indian CEOs are less concerned about than their Chinese or global peers.
According to PwC 15th Annual Global CEO Survey 2012, Indian CEOs were also more optimistic about talent availability and short-term growth prospects compared to their global peers.
Around 76 per cent of Indian CEOs were willing to take the onus of training the available talent. They have expressed interest in investing in vocational training programmes compared with 54 per cent by their global peers.
The PwC survey was conducted among 1,258 CEOs in 60 countries and included 76 from India. CEO across countries also said they were unable to pursue a market opportunity because of talent challenges.
Ms Padmaja Alaganandan, Executive Director, Consulting, PwC India, said: “Globally, CEOs are still positive about India and have ranked the country as the fourth most favourable nation for overall growth prospects in the next 12 months, just behind China, US and Brazil.”
She feels that Indian CEOs may be underestimating the extent of this challenge today. “Investment in skills and capability building remain a key requirement and if not addressed swiftly with appropriate initiatives, we could see a situation where lack of talent could stifle expansion and innovation.”