Unlike its global counterparts, increasing global competition emerged as the biggest issue affecting Indian SMEs as 43 per cent cited it as a top concern, compared to global average of 26 per cent.

Economic uncertainty (34 per cent) and shifting customer expectations (29 per cent) were the second and third most important concerns, while 77 per cent of Indian respondents said they are increasingly focused on new geographic markets and 58 per cent said that global expansion is the key to growth.

About 45 per cent said innovation, cost reduction and efficiencies, besides expanding products as well as services would play an important role in growth of SMEs.

Almost all Indian SMEs said they have global exposure, with only two per cent respondents saying they generate no revenues outside the country.

Only one per cent of respondents said they would not generate revenues from overseas in the next three years."This is an indication that Indian SMEs are perhaps the most globalised of all countries we surveyed," Oxford Economic Associate Director Andrew Tessler told PTI. Investing in new technologies was a top strategic priority, including investing in business management software, data analytics, mobile, social media and cloud computing.

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