The Hindu Business Line : Intra-Asian trade to explode

Business leaders from Asia's SMEs expect intra-Asia trade to explode, according to a new survey by UPS. Almost 70 per cent of the survey respondents say they expect trade across Asian nations to outpace even the robust trade between Asia and the West. However, the survey also highlights challenges for SMEs in Asia, with respondents across the region listing lack of innovation, non-availability of qualified staff and problems in securing funds as their biggest concerns. Respondents in China, Indonesia and Thailand and the Philippines cite the absence of a proper legal framework, lack of supply-chain efficiency, difficulties in accessing overseas markets and market intelligence as additional obstacles. Business leaders in India, the survey notes, however, are undeterred by these challenges and show great optimism in their country's growth prospects.

An estimated 43 per cent respondents from India believe that it will be at par with China within three years in terms of economic growth potential while 76 per cent of the respondents feel that trade between India and the US is set for a jump in the coming year.

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