India’s CFOs more optimistic, but readiness gap highlights need for stronger capabilities: Survey

India’s chief financial officers (CFOs) are entering the year ahead with greater confidence, even as they grapple with a widening gap between their strategic ambitions and organisational readiness, according to Grant Thornton Bharat’s inaugural India Finance Leaders Barometer. 

The survey, which draws on responses from 149 CFOs and senior finance leaders across industries, found that 85% of respondents have a more positive outlook than six months ago. The findings point to an evolving role for finance leaders, with CFOs increasingly expected to drive business growth, transformation and long-term value creation rather than focus primarily on financial reporting and operational oversight. 

At the same time, the survey highlights a preparedness gap. While 64% of finance leaders are ‘very confident’ about delivering on their finance agenda over the next 12 months, 55.7% describe themselves as only ‘somewhat prepared’ to deal with the challenges ahead. 

The gap suggests that organisations will need to strengthen their capabilities, agility and resilience as finance leaders take on a more complex and strategic mandate. 

Strategic planning emerges as a key CFO priority 

The survey found that 62% of CFOs rank strategic planning among their top three priorities. Yet nearly half (48%) continue to spend a significant share of their time on operational oversight. 

The findings suggest that finance leaders are looking to create greater capacity to participate in business decisions and shape strategy, rather than remain focused on running day-to-day finance operations. 

Technology modernisation is also becoming a baseline expectation, with 68% of finance functions reporting modern or developing technology environments. Artificial intelligence, meanwhile, is beginning to show measurable business value, with 45% of CFOs saying AI is already delivering some measurable benefits. 

However, significant gains remain limited. Only 8% of organisations reported improvements of 15% or more, indicating that enterprise-scale AI adoption and value creation are still at an early stage. 

CFOs plan to increase spending on AI and technology 

The growing optimism among finance leaders is translating into targeted investments in technology, talent and finance capabilities. 

According to the survey, 75% of CFOs expect to spend more time on AI and automation, while 71% plan to increase technology investments. The focus, however, appears to be on targeted investments rather than broad-based spending, as organisations seek to balance transformation with financial discipline. 

Balancing growth and risk remains the biggest challenge 

Despite the positive outlook, seven in 10 finance leaders identify balancing growth ambitions with business risks as their biggest leadership challenge. The findings suggest that organisations continue to favour measured transformation, stability and disciplined execution over bold disruption. 

While boardroom dynamics remain largely positive, 44% of finance leaders say having a clearer mandate to challenge leadership thinking would strengthen their influence. This indicates that the next opportunity for CFOs may lie less in gaining access to data and more in strengthening their role in governance, decision-making and strategic debate. 

Karan Marwah, Partner and CFO Advisory Leader, Grant Thornton Bharat, said the expectations around the CFO role have changed significantly over the past decade. “Today few organisations question whether the CFO should be a strategic advisor, as the expectation is already there. The challenge is that many finance leaders continue to operate within delivery models designed for a far more operational mandate,” Marwah said. 

“As business expectations grow, organisations must rethink how finance is structured, governed and enabled so CFOs can spend more time shaping decisions rather than managing processes,” he added. 

The survey also found that growth continues to be a key priority for businesses. Around 37% of organisations are targeting measured organic growth while 29% are pursuing aggressive expansion. For one in four finance leaders, transformation, technology and AI are among the most important enablers of business success.