India has solidified its position as the leading market for global companies rethinking trade and manufacturing strategies, according to Standard Chartered’s latest Future of Trade report.

The survey of 1,200 C-suite and senior leaders across 17 major markets and four industries highlights a significant shift in corporate priorities. Nearly half of the respondents plan to increase or maintain trade with India, the world’s fastest-growing major economy. At the same time, two in five corporations aim to expand or sustain manufacturing operations in India.

The country’s appeal is particularly strong among companies from the US, UK, Mainland China, and Hong Kong, with over 60% of firms in these markets looking to strengthen trade ties with India.

Sunil Kaushal, Global Co-head of Corporate & Investment Banking and CEO, ASEAN and South Asia at Standard Chartered, noted:

“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. However, trade fragmentation is likely to hinder global growth in the short term.”

Sunil Kaushal, Global Co-head of Corporate & Investment Banking and CEO, ASEAN and South Asia at Standard Chartered

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Globally, the report found that trade tariffs, emerging technologies, and economic growth are shaping corporate strategies, with 53% of respondents ranking them as top priorities. Corporate leaders also expect Asia to remain the key driver of trade growth in the coming years, while the Middle East and US will continue to play vital roles.

The findings underscore India’s growing importance in the global supply chain, as corporations adapt to shifting trade dynamics and rising costs while embracing digitalisation and smart manufacturing for long-term resilience.