Indian businesses are outpacing their global counterparts in ESG reporting and compliance, according to a new study by DBS Bank. The report, titled ‘Pivotal: How treasury and finance enable a new era of globalisation’, surveyed over 570 senior executives across 15 countries, including India.
The study revealed that Indian companies are more likely to be engaged in ESG reporting and compliance (65%) compared to Singapore (62%), Hong Kong (53%), and China (41%). This increased focus on ESG aligns with the country’s growing emphasis on sustainability and corporate accountability.
Beyond ESG, Indian businesses prioritise talent acquisition, operational efficiency, and market expansion. Securing new skills and talent emerged as the top priority for 78% of Indian businesses, followed by improving productivity and operational performance (76%). A significant 72% of Indian companies are focused on business diversification through innovation, financing, and exploring new markets.
Rajat Verma, Managing Director and Head of Institutional Banking, at DBS Bank India, said, “Indian businesses are demonstrating a strong appetite for growth and innovation. The role of treasury and finance functions is evolving rapidly to support these ambitions.”
Another key finding of the study is that India’s diverse talent pool, stable political environment, and robust financial ecosystem are major attractions for businesses considering locations for their treasury and finance functions. However, the emergence of new market entrants is a significant challenge for Indian businesses, with 42% of executives citing it as a major barrier to growth.
Despite these challenges, Indian enterprises are actively pursuing global expansion. Treasury and finance departments play a pivotal role in driving corporate strategy and managing supply chains in this competitive landscape.
The study underscores the dynamic nature of the business environment and the critical role of treasury and finance functions in navigating these complexities. As India continues its journey towards economic growth and global integration, businesses will need to adapt and evolve to stay competitive.
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