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MC-Deloitte CXO survey on the state of economy CXOs share their insights on the Indian economy and budget 2026-27
Over 84% of corporate leaders do not expect any new personal income tax measures in Budget 2026
Nearly one in five respondents in the pre-Budget survey expect India’s economy to grow above 7% in FY27
35.6% of respondents expect a stable tax regime with no changes in either the old or new tax structures
Trade policy measures such as free trade agreements and supply-chain integration were selected by 52 percent of CXOs, indicating continued emphasis on export-led growth.
The CXO survey was conducted by Moneycontrol and Deloitte between December 2025 and January 2026. The survey includes CXOs from across industries, such as, banking and insurance; manufacturing; transport and logistics; energy; life sciences and health; telecom and tech; e-commerce.
83 percent of 46 respondents – feel the Budget should "consider steps to manage geopolitical risks and evolving policy directions in major economies, including the US".
Executives said complexity in taxation diverts managerial bandwidth and raises compliance costs, often leading to litigation.
As per survey, 17 respondents (37 percent) say that compliance simplification by the four new labour codes roughly offsets costs increases.
A simpler and more predictable tax and compliance framework can materially reduce friction, while improved land acquisition processes are critical to avoiding project delays, executives said.
According to the survey, close to 30 percent respondents think that the central bank will hold rates
According to the survey, 46.7 percent are somewhat confident, while 15.6 percent are very confident on the central bank controlling inflation at 4 percent.
The survey shows that 53.2% of respondents expect significant disruption from AI in terms of ROI, use case adoption, and skills, while 46.8% anticipate moderate disruption.
On capital expenditure, 15 respondents said their companies would significantly increase spending over the next 12 months, while another 18 executives indicated a slight increase
Moneycontrol-Deloitte CXO survey reflects a degree of caution. 24 percent of CXOs said they held a neutral view, forecasting GDP growth in the 6–6.5 percent range