SMEs optimistic about economic outlook
Small and medium enterprises in the country are optimistic about the economic outlook for the next two quarters, a survey by HSBC Commercial Banking revealed.
By PTI |
MUMBAI: Small and medium enterprises in the country are optimistic about the economic outlook for the next two quarters, a survey by HSBC Commercial Banking revealed.
The HSBC survey conducted in the month of May in the Asia Pacific region among 3,000 SMEs which included 300 respondents from India, expect economic growth at either the same level or better than last year.
Puneet Chaddha , Managing Director and Head of Commercial Banking for HSBC in India said companies were asked about their economic outlook for the next six months, their plans on capital investment, change in headcount and expectations about trade volumes.
The survey found that 59 per cent of India's SMEs are optimistic about the economic outlook . The respondents from India were found to be the most optimistic in the region followed by China and Taiwan.
According to the survey, 56 per cent of India's small businesses intend to make capital investment in the rest of 2008. This figure is nearly the same as six months ago when a similar survey had found 60 per cent of the respondents saying they intended to make capital investment.
The Indian SMEs like their counterparts in other Asia Pacific countries intend to maintain or increase their headcount over the next two quarters and also expect the volume of trade with China and rest of the world to go up.
Chaddha said the survey did not include the full impact of inflation as it was done in May and that impact would get reflected in the next survey.
The HSBC survey conducted in the month of May in the Asia Pacific region among 3,000 SMEs which included 300 respondents from India, expect economic growth at either the same level or better than last year.
Puneet Chaddha , Managing Director and Head of Commercial Banking for HSBC in India said companies were asked about their economic outlook for the next six months, their plans on capital investment, change in headcount and expectations about trade volumes.
The survey found that 59 per cent of India's SMEs are optimistic about the economic outlook . The respondents from India were found to be the most optimistic in the region followed by China and Taiwan.
According to the survey, 56 per cent of India's small businesses intend to make capital investment in the rest of 2008. This figure is nearly the same as six months ago when a similar survey had found 60 per cent of the respondents saying they intended to make capital investment.
The Indian SMEs like their counterparts in other Asia Pacific countries intend to maintain or increase their headcount over the next two quarters and also expect the volume of trade with China and rest of the world to go up.
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Chaddha said the survey did not include the full impact of inflation as it was done in May and that impact would get reflected in the next survey.
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