India is likely to become significantly more influential in Asia-Pacific in next five years and the number of cross-border transactions involving Indian companies is also set to increase, says a report.
According to a new report by global law firm Baker McKenzie and Merger market, 90 per cent of 150 Asia Pacific based business leaders expect the number of cross-border M&A transactions involving Indian companies to rise.
"Amidst global uncertainty, Asia-Pacific will play an increasingly significant role to fuel both international trade and investments. This, combined with the Government of India's progressive outlook, is accelerating India's favourable position to do business in and with, as well as strengthening the country's influence in the region," Ashok Lalwani, Global Head of India Practice, Baker McKenzie said.
Around 95 per cent of respondents said Indian economic influence in the region would grow in the coming five years, compared to 77 per cent who saw China's influence as continuing to expand.
Besides strong growth rate, India's influence will also stem from its attractiveness as an investment destination and a jurisdiction where domestic businesses can grow and expand beyond their borders.
"The steps taken by Prime Minister Narendra Modi's pro-business government, among many other factors, have contributed to respondent sentiment that the Indian government is the most active in the region in terms of improving the ease of doing business in the country," the report said.
The report, Asia Pacific Business Complexities Survey 2017, further noted that technology, through either disruption or the need for innovation, is the leading complexity with companies across the region, followed by cost pressures/ shrinking margins and technological disruption from competitors.
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