India SMEs show high level of business acumen

By admin August 13, 2009 11:46 am IST

Indian Small & Medium Enterprises have shown a higher level of business confidence than their peers in other emerging markets, according to a leading global bank. “SMEs in India are among the most confident,” declared HSBC Emerging Markets Small Business Confidence Monitor survey.
 

It was conducted on over 3,400 SMEs in 12 emerging markets from Asia, Latin America and the Middle-East and found that a majority of SMEs are planning to maintain their capital expenditure plans, while some want to increase them further.
 
“In India, 75 per cent SMEs covered under the survey, plan to maintain the same level (of hirings) as last year, while 22 per cent plan to increase staff and 2 per cent plan to cut down on staff,” said the survey.