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India among regional leaders in SME sector: MasterCard

India has among the strongest small and medium-sized enterprises sector in the Asia Pacific region but poor infrastructure and insecurity over government regulations are a dampener, according to a report by MasterCard.

The SME Business Environment Index found that India scored 50.4, with a score above 50 indicating a positive outlook and one above 60 indicating an ‘exceptional rating’. The Index tabulated scores across six categories to arrive at the composite score. The other top performers in the region included China (53.8), Australia (52), and Indonesia (51.5).

“In line with the high growth GDP forecast (7.5 per cent in 2015 and similar forecast in 2016), business owners have a positive outlook on the economic and business conditions for growth,” according to the report. India’s SME sector scored 60 in the economy, growth and financing category.

Within this, it scored 64 in economic growth, 65 in business growth, and 51 in ease of raising funds.

Digital engagement

The Digital Engagement category was the highest-scoring for India, with a total score of 63. Within this, the scores were high for all the sub-segments: Business tech usage (64), social media usage (62), and business Internet usage (61).

“Business owners feel positive about their ability to respond to changes and adapt to new situations,” according to the report, which explains why India got a score of 51 in the Agility and Resilience category.