Global companies eye India, China sales

India and China form the top two sales markets for major global corporations, and also the top two markets for production for one third of the companies, a survey from Ernst and Young has revealed.

India had the better of China as a sales destination, with the 47 per cent of high-performing global firms saying they saw India as the most important market for sales while 44 percent named China.

Irrespective of the location of the firms the importance of the two markets remained the same.

Reuters reported that on a broader level, which included top-performing as well as less successful companies, India was the focus of 34 percent of firms while China was just behind with 33 percent.

"It appears that the combination of high volume and rapid growth in the India and China markets lifts them outside the normal more regional focus," Ernst & Young said.

Earlier in January, Ernst & Young had said that India was a major destination for foreign investors considering the huge long-term growth possibilities in the country.