India, Hong Kong and Malaysia have the highest proportion of companies listed as "super-growth" firms in Asia.
Grant Thornton International (GTI) defined "super-growth" as having expanded at well above the average global rate of mid-sized companies in compiling its index.
Although the US has the largest proportion of firms with 39 percent, "the real story is the continuing rise of Indian and Hong Kong companies", said Kon Yin Tong, managing partner at the Singapore-based member of GTI.
India and Hong Kong shared second place in the index, each with 34 percent, while Malaysia was tied with Australia in the seventh spot, at 22 per cent.
India's figure jumped from 21 percent in 2005, while Hong Kong's rose from 28 percent last year.
GTI attributed India's soaring proportion of "super growth" companies to expansion in exports of software services and business process outsourcing.
"Businesses in Hong Kong are benefiting from the rapid pace of development in mainland China," GTI said.
China, included in the index for the first time, emerged ninth with 14 percent of companies qualifying as "super growth".
Singapore and Taiwan each had 10 percent of their firms in the category, followed by Thailand with nine percent.
The survey covered owners of medium-sized businesses from 30 countries.