Indian Firms Shift Focus Amid Tariff Wars: A Domestic Market Surge
Faced with tariff wars and trade policy changes, Indian firms are realigning their strategies. A survey indicates 87% of companies are prioritizing domestic markets to ensure stability. Businesses are reassessing strategies, with many looking to enter less affected markets and pursuing mergers to safeguard supply chains.
- Country:
- India
Indian businesses are increasingly prioritizing domestic markets in response to the ongoing tariff wars, according to a survey of 250 entities released on Thursday. The shift indicates a strategic pivot, with 87% of respondents focusing more on local clients to navigate evolving market dynamics.
The survey, conducted by HSBC, reveals that over 75% of the firms are reevaluating their long-term business strategies due to changing trade policies. Meanwhile, 80% are more cautious in their expansion and investment decisions, given the uncertainties on the trade front.
HSBC India's head of global trade solutions, Runa Bakshi, noted that Indian firms are exploring new markets and regions to manage risks and capitalize on fresh opportunities. The report highlights that 91% of companies are targeting entry into new markets, and 87% are considering mergers and acquisitions to strengthen their market positions.
(With inputs from agencies.)
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