Confidence level of business leaders have plunged to its lowest level since 2003 but Indian CEOs are still optimistic with 70 per cent of them having a bullish outlook for the short term as well as long term growth, global consultancy firm PricewaterhouseCoopers says.
"As CEOs watched the damage spread, short-term confidence reached its lowest point in six years. Only 21 per cent of respondents remain very confident about the prospects for growth over the next 12 months, with the exception of Indian CEOs, 70 per cent of whom were still remarkably positive," according to the PricewaterhouseCoopers Global CEO Survey.
The survey, which covered 1,124 CEOs from more than 50 countries pointed out that the financial crisis has shattered short-term confidence level, which is deteriorating day by day and there is still uncertainty about the future.
However, Indian CEOs expect their businesses to be less affected by recent problems in the global banking system, with only 50 per cent of the respondents saying that they were likely to be affected by the credit crisis, as compared to 70 per cent globally, PwC said.
Indian CEOs' perspective differed from that of their global peers in various spheres including their business growth strategies.