BENGALURU: For the past nine years, American Express in conjunction with CFO Research has been conducting Global and Spending Monitor survey. The agenda of the survey is to explore how senior finance executives evaluate the economy of their domain and what course they plan to pursue in order to strengthen their businesses in the coming year.

The report places Indian executives among the elite world leaders in terms of economic confidence and having the most aggressive plans for investment. Indian businesses remain committed to innovation and growth with executives looking to exploit the recent government tax reforms to implement their business plans. Most of them are expected to seek out a variety of strategies for optimizing cash flow.

"Sustained high level of optimism towards growth will see India as a bright spot for hiring as companies get ready to add to the government's initiative towards improving job-oriented skills in the country," says Saru Kaushal, Country Business Head, American Express Global Corporate Payments.

According to this year’s report, India is one among the few countries that will witness a substantial growth with 86% respondents predicting a positive economic expansion. Also, 62% of the respondents have claimed that they had higher revenues compared to previous years.  

In terms of average levels of spending and investment for 2016, India leads the world, with the numbers expected to go up by 18%. The increase in investment would also mean a significant growth in the work force, with a 13% growth probability..

However, this increase in headcount could be marred by the lack of talent. The report says 7 out of 10 Indian executives polled that their companies' performance goal has been impeded by the inability to hire skilled people for the requisite positions in sales and marketing. 60% of the firms are taking critical steps and are offering incentives among other amenities to attract as well as retain their talent pool.

"From improving working environment to rotating employees through various departments, companies are planning to introduce measures in this direction and trying to keep their attrition rates at the lowest levels," adds Kaushal.

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