New Delhi: India has emerged as the top market of interest for global firms seeking to realign trade and manufacturing strategies, according to a Standard Chartered report released Tuesday.
Nearly half of the companies surveyed plan to expand or sustain trade with India, the world’s fastest-growing major economy, while two in five aim to increase or maintain manufacturing
activity.
Interest is particularly strong among corporates in the US, UK, Mainland China and Hong Kong, with over 60 per cent of respondents from these regions looking to boost
trade ties.
The report, titled Future of Trade: Resilience, draws on insights from 1,200 C-suite and senior executives across 17 key markets and four industries, outlining global trade strategies for the next three to five years.
It said while trade tariffs remain a key concern, emerging technologies and global economic growth are equally important, with 53 per cent of corporates identifying them as top strategic drivers shaping the future of trade.
Executives expect Asia to remain the main engine of trade growth, supported by rising prominence of the Middle East, while the US continues as a heavyweight player.