At a time of economic downturn, emerging economies of India, China and Brazil will be home to "important sources of growth" and companies  should not miss a chance to establish foothold in these countries now, a study said.

US-based global outsourcing firm Accenture said in a study that while companies would continue to find attractive opportunities to acquire assets in the beleaguered Western markets, they "should look further afield".

"In many industries, organisations will find important sources of future growth in the rapidly growing emerging economies of the B6 - Brazil, Russia, India, China, South Korea and Mexico. Companies that fail to establish their positions in emerging economies now will find it much more difficult to break in at a later point," the study said.

The strongest companies and management teams will use the downturn to grow. While some would build market share through mergers, acquisitions and international expansion, others would focus on adding customers and strengthening their brands, it said.