November 16 th 2006 Jagdip Ahluwalia. Executive Director, IACCGH Honorary Executive Director, Alliance of Indo American Chambers of Commerce Indo-American Chamber of Commerce of Greater Houston (IACCGH) We thank Dr Abdul Shaikh, Senior International Economist, US Department of Commerce, and the IBEF (www.ibef.org) for generously sharing their material and slides regarding India.
About India World’s Largest Democracy Over One billion people 250-300 million middle class 10 th largest global economy 4 th in Purchasing Power Parity Strong Sustained GDP growth Attractive and diverse market for product and services Easier access to capital
$849 billion GDP (2006, current price) 1 4 th largest economy in PPP $3.7 trillion in 2005 2 World’s Fastest Growing Democracy 3 8.9% growth rate in Q2 20064 India – World’s Fastest Growing Free Market Democracy Source: www.ibef.org
IMF - www.imf.org
World CIA Fact book Online
India Resource Center - www.ibef.org
India has among the highest returns on foreign investment - Dan Scheinman, Cisco System Inc. as told to Business Week, August 2005 “ We came to India for the costs, stayed for the quality and are now investing for innovation.” A T Kearney FDI Confidence Index 2005 India is among the three most attractive FDI destinations in the world Jack Welch General Electric “ India is a developed country as far as intellectual capital is concerned.” US Department of Commerce By 2032, India will be among the three largest economies in the world BRIC Report Goldman Sachs, October 2003 Why Invest in India?
Karnataka is a Top 5 Industrialized State One global corporation moves in each week India’s ‘Knowledge Capital’ Bangalore (Karnataka) Bangalore ranked 4th by UNDP as ‘Global hub of technological innovation’
Bangalore Information Technology 20% of Indian Electronics production Over 354 units with Revenues over $2 Billion One new IT company is set up in each week India’s IT Capital with Over $8.5 B Software Exports Est $10 Billion by 2008 35% of India’s Software Exports . Over 50% of the worlds SEI CMM level 5 companies
Bangalore Biotechnology No.of Companies 110 (>65% of India’s Biotech companies) Employment 8000 (50% Scientific Personnel) Export Turnover USD 188 Million National Centers of Excellence 2 of 6 are in Bangalore Venture Capital Funding Highest in Karnataka
Mumbai – India’s Business Capital The fastest growing State in India The only State to achieve a growth rate of over 8% per annum Capital of Maharashtra Commercial, trading, financial and services capital. Hosts most top Indian business houses and many global multinationals. Hosts headquarters of the Reserve Bank of India (RBI) and of most other financial institutions. Home of the Bombay Stock Exchange (BSE). Oldest Stock Exchange in Asia, founded in 1875. Contributes over one-third of India’s income-tax revenues and over 30% customs revenue. Also movie (Bollywood) and e-biz capital.
Good local partners knowledgeable regarding the local market and procedural issues.
Study the Market & Competition.
Aggressive due diligence and follow up.
Patience and commitment.
Obtain Export Counseling.
Understand the rules, standards and regulations.
The US Department of Commerce Can Lend a Helping Hand Nov 2006 Trade Delegation www.export.gov/indiamission Led by Under Secretary for International Trade Franklin L. Lavin In Coordination with the U.S. Commercial Service in the U.S. and India
India and the United States are working closely to help improve the IPR situation there.
The two governments have conducted over a dozen intellectual property training programs and exchanges.
Forums such as the U.S-India Commercial Dialogue and the US-India Trade Policy Forum allow for the continue exchange of ideas which enable India to gain the information needed to make reforms in the IPR sector.