Indian SMEs eye offshore expansion

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Due to the positive outlook on the economy, Indian small and medium enterprises (SMEs) are planning to increase capital expenditure and hire more staff in the next six months, as a large number of people eye offshore expansion for their business.

The latest HSBC research states that confidence among Indian SMEs in the fourth quarter of 2010 has been higher than among other SMEs in the Asian market.

The research findings also show that the number of SMEs across India conducting international business activities is expected to rise from 31 per cent to 56 per cent by 2013. The increase is driven by domestic SMEs, 24 per cent of which plan to become international players by 2013. Further, the research showed a positive outlook on local economic growth, which is expected to maintain the same pace over the next six months.

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