24 September 2025, India: Standard Chartered’s latest report, “Future of Trade: Resilience,” highlights a significant shift in global corporate strategies, with India emerging as the leading market of interest for companies looking to realign their trade and manufacturing activities.
As per the survey, India is the leading market of interest, where almost half of the respondents are looking to ramp up or maintain trade activities with the world’s fastest-growing major economy, while two in five intend to ramp up or continue manufacturing activities. In particular, more than 60 per cent of corporates from the US, the UK, Mainland China and Hong Kong are looking to increase trade with India.
The report presents inputs from 1,200 C-suite and senior leaders at multinational corporations based in 17 key markets across four industries, on their views for global trade and their strategies over the next three to five years.
Overall, globally the Future of Trade report, reveals that while trade tariffs are top of mind, emerging technologies and global economic growth are equally critical factors, with 53% of corporates respectively ranking those as the top strategic drivers shaping the future of global trade.
Sunil Kaushal, Global Co-head, Corporate & Investment Banking and CEO, ASEAN and South Asia, Standard Chartered, said, “We are seeing strong demand from clients to evolve their global trade and supply chain ecosystems and accelerate the adoption of smart manufacturing and AI to drive efficiencies and offset rising costs. Although trade fragmentation is likely to hinder global growth in the short term, rising prosperity in developing economies and emerging technology mean that the picture, while complex, is still compelling.
The Future of Trade report offers a forward-looking perspective on global corporate priorities to build resilience. It serves as a strategic compass, highlighting the top destinations that multinational companies are considering for realigning their sourcing, manufacturing, and exports. It also provides actionable insights to shape decision making, such as investing in supply chain finance platforms and digitalisation to improve treasury management, corporate cashflows, and supply chain diversification,” Kaushal added.
Corporate leaders believe that Asia will continue to drive trade growth in the next three to five years, with rising prominence from the Middle East and the US remaining as a heavyweight. The report also reveals corridors that will see increased trade and manufacturing activities.
Table: Top six markets of interest for global corporates realigning their supply chains geographically
|
Market |
Net intention |
||
|
Sourcing |
Manufacturing |
Export |
|
|
India |
47% |
41% |
48% |
|
Malaysia |
35% |
31% |
37% |
|
Mainland China |
31% |
26% |
33% |
|
Indonesia |
23% |
20% |
23% |
|
UAE |
18% |
18% |
21% |
|
United States |
16% |
9% |
19% |
Net intention is the net proportion of surveyed corporates who are planning to increase or maintain activities with the target market.