New Delhi, Jun 15 (IANS): Indian companies earns around 72 per cent of their revenue from the domestic market, according to a report by Morgan Stanley.

Titled 'Global Exposure Guide 2021', the report showed that 18.7 per cent of the revenue comes from developed economies and 9.3 per cent from the emerging market economies.

It noted that Taiwanese, Saudi Arabian, Hong Kong, Singaporean, South African, and Mexican companies derive more than half of their revenue from foreign markets.

"Taiwanese, Mexican, Japanese, Saudi Arabian and S Korean companies are the most exposed to the US, each generating more than 10 per cent of their revenue from the US. Taiwanese companies, in particular, generate 27 per cent of their revenue from the US market, largely because Taiwan is an important part of semiconductor supply chain and serves as major suppliers for Apple," said the report.

Further, it noted that Russian companies are the most exposed to developed Europe (mainly in its energy and materials sectors). Hong Kong, Taiwanese, and South African companies also derive a significant percentage of revenue from developed Europe.

Indonesian, Taiwanese, Hong Kong, and Australian companies are the most exposed to China in terms of revenue, it said.

It also said that Chinese and Indian companies, in particular, source 9 per cent of revenue from government expenditure.