New Delhi (PTI): With Indian and Chinese companies pursuing global expansion, the competition has become more intense for global conglomerates, says a survey by international financial publication the Economist.

"As leading companies in China, India and elsewhere flex their muscles and become more ambitious...as evidenced by recent cross-border acquisitions such as that made by Tata for Corus Steel, it is clear that the global competitive environment is becoming more intense," said the survey conducted by the Economist Intelligence Unit (EIU) and BT Telecom India.

The other major business risk factors, identified by the survey 'Risk 2018: Planning for an unpredictable decade', include increase in protectionism, oil price shock, unexpected regulatory change and retrenchment of globalisation.

The survey is based on responses from 600 senior executives across the globe.