Firstly, you do not have to accept induction, but refusing induction doesn't mean refusing all treatment. You can ask for Expectant monitoring, which means that they do a scan every couple of days to check your amniotic fluid levels and placenta function, if they found a problem, then you could have elcs, if not, then baby can stay there until s/he is ready to come out.
I am not convinced an OB would consent to elcs simply for being "overdue" (a contentious issue from the outset), as emcs is not a given with induction (although you are right inasmuch as it is more likely). However, I discussed this issue with my midwife in my debrief (although I would be in a slightly different position having had emcs), I asked if I could opt for elcs over induction (as I would not consent to synto again, especially post cs), and her take on it was that if I did not consent to induction, and they wanted the baby out, then they would have no other option. That however, is effectively railroading them into your preferred choice, and anyone taking that route would need to be absolutely sure that the path they were pushing for was the right one for them.
I would suggest that you have a sensible conversation with your OB, after doing a bit of reading about consequences of induction vs consequences of going overdue, so you can ask the right questions, and put your concerns across. Ask about data for outcomes, and why the OB prefers the course of action he recommends. All 3 options (wait, induction, surgery) have their risks and benefits, you and your HCPs just need to work out where the balance lies for you and your baby.