Geo-political scenario is the most important risk for the mining industry
Large businesses in India are focusing more on improving customer retention and competitive positioning, while mid-size businesses are prioritising competitive positioning and growing customer base, and small businesses are focussing on customer retention and accelerated time to market.
This was stated by Dun & Bradstreet’s ‘Global Business Optimism Insights’ report released on 8 Mar 2024.
Businesses in wholesale and retail trade are prioritising improving business valuations more than others, whereas for construction companies strengthening supply chain and operational efficiency takes precedence, and for metals sector the priority is growing the customer base, according to the report by Dun & Bradstreet India, a global leading provider of business decisioning data and analytics.
On the ESG front, Indian businesses are prioritising environmental sustainability and ethical procurement and supply chain policies over more ESG job creation or supporting local communities, like their global counterparts.
More than 49% of Indian businesses (as against 40% globally) are looking to include CSR/ESG in their annual assessment and 34% looking for annual assessments of their CSR/ESG activities.
When asked about top three business risks in 2024, Indian businesses ranked risks to business continuity at the top, followed by market changes, and macroeconomic risks, similar to businesses globally.
For the Accommodation & Food Services industry, changes in laws and regulations have been ranked as the highest risk. Financial, liquidity and insolvency risks ranked highest for BFSI, IT & Communications, Capital Goods and Textile industries, while geo-political risk has emerged as the most important risk for the mining industry.
Highlights:
• D&B Supply Chain Continuity Index for India improved marginally by 2% for Q1 2024. More than 50% of businesses are looking to diversify their supply chain to multiple suppliers and regions.
• D&B Investment Confidence Index for India dipped 9% for Q1 2024.
• D&B Financial Confidence Index for India improved 4% suggesting improvement in business’s confidence in the cost and availability of funding for operational and investment purposes.
• D&B ESG Index for India improved 4% for Q4 2023.
“India is well placed to capitalise on the global supplier relocations, even more so with increased government focus on improving logistics infrastructure.”
Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk and transform their businesses. Fiinews.com
