The research study identifies the top three priorities for Indian businesses over the next two years:
When examining insights from the subcontinent, it was seen that Indian businesses are more likely than their regional peers to be engaged in ESG reporting and compliance (65% in India, compared with 62% in Singapore, 53% in Hong Kong and 41% in China). This aligns with the increase in stringency and rigour required from mandatory reporting and disclosure norms in the country. Another interesting aspect that emerged was that one of the biggest considerations for Indian companies deciding where to locate their treasury and finance functions was the presence of a diverse talent pool, with 84% of organisations citing it as a critical factor, compared to a global average of 70%. A stable political environment and robust financial ecosystem, aspects that are very reliable in India, also rank high on this list of location influencers, each factor cited by 72% of businesses in India.
Speaking on the launch of this survey, Rajat Verma, Managing Director and Head of Institutional Banking, DBS Bank India said, “Amidst global headwinds, there are emerging opportunities for companies to benefit from the shift towards Asia by harnessing the power of innovation and data-driven decision making. The new DBS study reveals how the role of Treasury has been evolving strategically within this paradigm to drive business results, unlock value and manage risk. As a trusted partner, DBS Bank is committed to leveraging our established regional network and expertise in digitalisation to help companies navigate this path forward. ”
A significant finding is that 42% of Indian executives (compared to the global average of 27%) perceive the emergence of new market entrants as a key barrier, hampering business growth. Access to capital (40%), and growing regionalisation and nationalism, (36%), are also fundamental concerns. Despite these challenges, Indian enterprises are actively pursuing global expansion, with treasury and finance departments playing an increasingly central role. These functions are driving decisions, with 92% of treasury and finance teams engaged in corporate strategy and 88% of these teams in Indian businesses closely involved in procurement and supply chain management, vital functions in the current trade landscape.
Divyesh Dalal, Managing Director & Head – Global Transaction Services, SME & Institutional Liability Business, DBS Bank India shared, “The Pivotal 2024 survey indicates that businesses in India are leading their regional peers in ESG reporting and compliance, which corresponds closely to trends we have seen with DBS clients in the country. Treasury and finance teams are going beyond their traditional remit in driving value for the organisations. They are increasingly looking to better leverage emerging technologies like AI & Gen AI to build their core businesses. As companies become more global, the competitive advantage derived from integrating sustainability and digitalisation into operations will be the deciding factor for long-term business success.”
The findings of the DBS Bank study, in partnership with the Financial Times Longitude, point to the fact that companies that embrace the more involved role of their treasury and finance leaders and enable them to adapt to new responsibilities, stand to benefit from a more informed approach to unlocking new opportunities in a dynamic global marketplace.
1 Over 85% of respondents were from companies with an annual revenue of over USD 1 billion. The study was conducted by FT Longitude, the specialist thought leadership division of the Financial Times Group.
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About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia, and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world. In 2024, CRISIL Ratings reaffirmed its ‘CRISIL AAA/Stable’ rating on the corporate credit facility of DBS Bank India Ltd (DBIL). The rating on the certificate of deposits programme was also reaffirmed at ‘CRISIL A1+’.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney, and “Global Bank of the Year” by The Banker. As a different kind of bank, DBS is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 15 consecutive years from 2009 to 2023. In line with its focus on responsible banking, DBS was named the Best Bank for Sustainable Finance – India by Global Finance in 2024. Additionally, DBS Bank was ranked among the top 3 on Forbes' list of the World's Best Banks in India for three consecutive years, from 2020 to 2022.
DBS Bank has been present in India for 30 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly owned, locally incorporated subsidiary of a leading global bank. As a trusted partner, DBS provides a range of banking services for large, medium, and small enterprises and individual consumers in India, focusing on a seamless customer experience that helps them ‘Live more, Bank less’. In November 2020, Lakshmi Vilas Bank was merged with DBS Bank India Limited. DBS Bank India now has a network of ~520 branches in 19 Indian states.
DBS is committed to building lasting relationships with customers as it banks the Asian way and understands the intricacies of doing business in the region’s most dynamic markets. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
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