HSBC’s Small Business Confidence monitor surveyed the economic growth parameter and has made it evident that 69 % of SMEs in India have a stable economic outlook. The HSBC gauges the confidence level on parameters like capital investment plans, economic growth and recruitment.

“Our research indicates confidence levels in the emerging markets are stable. SMEs in India are not changing their business strategy in the next six months, despite the global uncertainty. This bodes well for the Indian economy,” says Dheeraj Dikshit, SME Business Head, HSBC India.

The latest wave is a survey conducted on 6,300 SMEs whose annual sales turnover is US $10m. These SMEs are spread across 21 markets such as Middle East, Asia, North America, Latin America and Europe.

Confidence levels of Global markets

Confidence levels of developed markets increased 9 points from 106 to 115. Confidence level of the entire globe increased from 111 to 118. The emerging markets showed an index of 122 that is seven points higher in comparison to developed markets that showed 115.

Positive confidence levels in Asian Markets

Since the financial crisis, Asian markets have shown signs of positivity for the first time, according to the survey. The positive waves are in terms of their economic growth, recruitment and CAPEX plans. Among the most confident countries surveyed, Vietnam ranks first with 164 index mark, Singapore (136), mainland China (123) and India (121).