93% mid-size cos report revenue growth

Despite global economic uncertainty,mid-size Indian companies reported:

o growth in their international business over the past 12 months (93%);

o their international business grew faster or at the same pace as their domestic business (69%); and

o revenues from international business are expected to grow in the next two years (71%).

The HSBC International Business Survey is the first-of-its-kind,capturing the views of 3,631 mid-size companies across 10 markets,including Brazil,Canada,France,Hong Kong SAR,India,Mainland China,Mexico,UAE,UK and US. The survey was conducted in April and May 2010 for HSBC Commercial Banking.

Puneet Chaddha,Managing Director and Head,Commercial Banking,HSBC India,said: The HSBC International Business Survey reveals the success of Indian mid-size companies in international business,and their aspirations to further expand it. These findings reaffirm our focus to support internationally minded corporates by enhancing visibility of market opportunities and help them overcome the challenges they face in overseas markets.”

Expansion plans

The international business forecast is positive with 95% mid-size companies with an existing international presence surveyed in India planning to further expand internationally in the next two years; this is the highest across the globe.

Globally,China is ranked second only to the US (1st) as a top location where international business is being conducted,followed by Germany,UK and Japan (ranked 3rd,4th and 5th respectively). The top locations where India’s mid-size companies are currently conducting their international business include US,UK and UAE.