The global study “Pivotal: How Treasury and Finance Enable a New Era of Globalisation” by DBS Bank highlights shifting priorities for Indian businesses post-COVID. Over the next two years, their top three priorities include securing new skills and talent, improving productivity and operational performance, and business diversification through innovation, financing, and exploring new market channels.

The study, surveying over 570 senior executives from 15 countries, reveals that 78% of businesses will focus on acquiring new skills, 76% on boosting productivity, and 72% on diversifying through innovation and new markets. Rajat Verma, Managing Director and Head of Institutional Banking at DBS Bank India, emphasizes the strategic evolution of treasury roles in leveraging innovation and data to drive business results amidst global challenges.

Indian businesses are notably proactive in ESG (Environmental, Social, and Governance) reporting, with 65% compliance, higher than Singapore, Hong Kong, and China. This trend aligns with India’s stringent mandatory reporting and disclosure norms. A diverse talent pool is a critical factor for 84% of Indian businesses in deciding treasury and finance function locations, surpassing the global average of 70%. Additionally, 72% prioritize India’s stable political environment and robust financial ecosystem.

Indian executives also identify new market entrants as a significant barrier to growth, with 42% citing this concern compared to the global average of 27%. Access to capital and regionalization and nationalism are also key challenges. Despite these hurdles, Indian businesses are actively expanding globally, with treasury and finance departments playing a crucial role. Ninety-two percent of these teams are involved in corporate strategy, and 88% engage closely in procurement and supply chain management, underscoring their vital role in today’s trade landscape.