Indian trade confidence very high: HSBC survey

Mumbai, November 5: With the small and mid-market business in India continuing to be optimistic about their trade outlook, the country's trade confidence remains higher than the regional average, a survey said.

Indian businesses continue to be confident with an Index of 117, an increase of two points over the second quarter index of 115, according to the latest HSBC Trade Confidence Index.

Small and mid-market businesses (SMEs and MMEs) in India that are engaged in export and import activities continue to be optimistic about their trade outlook over the next three months, the survey said.

To tackle the problem of buyer default, the strategies they intend to put in place include greater use of trade finance solutions provided by banks, export credit insurance and doing less business with certain buyers as well as accept smaller orders to reduce exposure, it said.

In fact, there was an improvement in sentiment across the Asia-Pacific region with China the most confident (121), followed by Indonesia (120) and UAE (118).

The HSBC Trade Confidence Index covers a total of 12 markets, including key economies in the Asia-Pacific region - the United Arab Emirates (UAE), Brazil, the UK and the US.