NEW DELHI: Indian businesses are increasingly confident and better prepared to navigate the complexities of global trade, with 77 per cent reporting greater certainty about trade policy impact on their operations compared to six months ago, a new report said on Tuesday.
Around 80 per cent of Indian businesses anticipate a positive impact from recent trade policy changes in the next two years, the report from HSBC India said.
Further, the proportion of Indian businesses feeling "informed and well-prepared" to respond to changing trade regulations rose to 49 per cent from 44 per cent six months earlier, the report said.
Only 23 per cent of Indian firms expect trade uncertainty to hurt operations over the next two years, lower than the global average at 32 per cent.
With the easing of uncertainties around tariffs, Asian firms anticipate a reduced impact of supply-chain disruption on their revenue compared to six months ago, the report noted.
“Indian businesses continue to stand out for their resilience and optimism. The survey highlights that business leaders in India are more confident than their global peers, with many expecting trade policy changes to positively impact their growth. This confidence reflects India’s strong position in an evolving global trade landscape," said Mohit Agarwal, Head of Global Trade Solutions, HSBC India.
To address funding gaps, 82 per cent of Indian businesses are actively seeking alternative financing sources, compared to 66 per cent globally.
As much as 78 per cent of Indian businesses expect their revenues to grow over the next two years, significantly outpacing the global average of 57 per cent.
Indian businesses are favouring trade with neighbouring markets and plan to grow their footprint in Southeast Asia, Europe, South Asia, East/North Asia, and Oceania, the report noted.