India set to be fastest growing trading nation: HSBC

Dec 22, 2012 by

Source: Times of India via Indian Economic Business News

Rising bilateral trade with China, growing consumer wealth and high confidence level among its traders will push India to the top league of trading nations beginning 2013 and it is set to retain the fastest growth rate till 2020, says HSBC. “The growing Indo-China bilateral trade is set to increase significantly and the country will be the fastest expanding market for Chinese products, with import growth averaging 20 per cent annually during 2013-15 and 17 percent during 2016-20, while exports clipping at 23 per cent during 2013-15 and 19 percent during 2016-20,” says the HSBC trade forecast released recently. India tops the tables for all 23 markets surveyed as either their fastest import or export growth partner out to 2020, it said. The country also tops the HSBC trade confidence index apart from having the most promising global outlook with 61 per cent of traders expecting to see growth.” With a score of 135, India is the most confident country.