The Indo-American Chamber of Commerce (IACC), the only bi-lateral chamber for Indo-US business organized an interaction with Fairfax County Development Authority, USA and law firm Patton Boggs for companies interested in expanding their businesses to the United States of America. The highlight of the discussion was “The State of Indo-US Relations and the Economic Opportunity.”
Coming to India as a senior foreign affairs advisor of Patton Boggs Mr. Frank G. Wisner, former US Ambassador to India said, “India and the USA have always shared a very cordial relationship. In terms of strengthening the economic ties we must unearth opportunities that serve the interest of both the countries. We cannot aspire to have a fruitful business relationship without the co-operation of various partners. India is steadily ascending as a major contributor to the world economy, hence mutual cooperation is very important. We have differences but there is always a possibility of dialogue, understanding and negotiations to help us in our effort to further reinforce the economic growth of both the countries. There is considerable scope for bilateral cooperation especially in the areas of information technology, life science, education, energy, infrastructure and aerospace industries. SMEs from these sectors have great opportunities in US. Fairfax’s proximity to Washington DC provides great scope for the small and medium companies to bag business from large defense & aerospace contractors.”
According to Mr. Raj Rajkumar, Chairman (Karnataka) of the Indo-American Chamber of Commerce, “We are in the Indo-US Business Relationship 3.0, which in some sense is reflecting in the outbound investments from India to the US in the first 9 months of 2009. The key feature of these investments is that there are several investments of the US$ 50 Million. This goes to show that the small and medium sized companies with global ambitions are confident in taking a leap forward in the way they did business in the US. The SME sector is a major contributor and a major employment generator across the world. We hope that this will create employment opportunities for US citizens.”
“Hence the Indo-American Chamber of Commerce is partnering with the agencies such as the Fairfax County Economic Development Authority (FCEDA) to get the interested enterprises understand the assistance available to them to establish their operations in the USA. We think that such assistance will ease the efforts required by Indian companies to establish their US operations. And we are pleased to facilitate such assistance to our member companies.” He said
Continued Mr. Raj, “Likewise we want the US investors to come to India as there is tremendous growth in sectors like Education, Infrastructure, Energy, Aerospace & Healthcare to name a few. We believe that India is a great destination for US investments our country provides amongst the best potential business opportunities and Return on Investments (ROI).”
“We want both India and US to make economic progress by partnering with each other to address the new opportunities.” He added.
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About IACC:
IACC is an industry managed organization that is committed to develop Indo-US business and trade relations. IACC's mandate is to strengthen and support Indo-US trade by being the catalyst between the two countries. Established in 1968, the IACC continuously interacts with the Governments as well as Business communities of India & US. The chamber currently has over 2000 active members, 4 regional offices and 10 branch offices across India Within the main organization are 16 specialist committees to cater to the different needs of its members. Members of IACC are drawn from diverse business backgrounds and include India’s major corporate houses and over 200 Indo-US joint venture enterprises.
For more information on the Indo-American Chamber of Commerce (IACC) visit: www.iaccindia.com
