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| Indians second most confident of revival in trade prospects |
| Press Trust of India / Mumbai Jun 30, 2009, 16:31 IST |
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The Indian business community is the second most confident after UAE of an early revival in trade prospects, a survey released by Hongkong Shanghai Banking Corporation (HSBC) here revealed.
In a survey of 2,100 companies in Asia Pacific conducted between March and April 2009, companies in India, UAE and China are the most optimistic while those in Singapore, Australia and Hong Kong were the most pessimistic, it said.
The survey covered SMEs in seven markets. The questions asked were about their three-month outlook on trade volume; buyer-supplier risks; need for trade finance; access to finance; impact of government regulation on their businesses.
One-third of respondents expect that the risk of buyers defaulting on payment would increase, particularly import or export traders, the survey found.
36 per cent of the respondents in India expected an increase in the risk of suppliers not honouring agreed trade arrangements.
Reasons for not honouring were insufficient logistical and transportation capabilities as well as unwillingness on the part of suppliers to accept flexible payment arrangements.
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