IACCGH Rotary co host Doing Business with India Seminar
IACCGH and the Rotary Club of Houston co hosted a Doing Business with India luncheon at the Junior League in Houston on October 12th.
India Consul General in Houston the Honorable S M Gavai was the Chief Guest.
Over 250 people attended the luncheon which was sponsored by Nationwide Financial Services.
Dr. Abdul Quader Shaikh,Senior International Economist ,U.S. Department of Commerce was the Keynote speaker.
Rotary Club of Houston President Vicki Brentin welcomed the guests.
Chris Dunbar of Treadstone Consulting won the domestic airline ticket donated by Continental Airlines.
Dr Shaikh encouraged the audience to visit www.export.gov/indiamission for details about the U.S. Department of Commerce’s International Trade Administration Business Development Mission to India. Under Secretary for International Trade Franklin L. Lavin will lead the Mission with coordination by the U.S. Commercial Service in the United States and India to on November 29-30, 2006
Extracts from the Presentation by Keynote Speaker Dr. Abdul Quader Shaikh,Senior International Economist ,U.S. Department of Commerce . Visit www.iaccgh.com for the complete presentation.
Facts about India
- One billion plus population
- India ranked 10th largest economy, 4th largest in terms of Purchasing Power Parity
- 250-300 million middle class
- Gross Domestic Product (GDP) growing at over 8-9 %, makes it one of the fastest growing economies in the world
- Lucrative and diverse opportunities for U.S. exporters with the right products or services
- Easier access to capital
Government of India Policy Trends
- Liberalized import policy
- Lower import tariffs, simplified regulations
- Removal of quantitative restrictions (QRï¿½s)
- Lower customs duties for projects (from 25% to 10%)
- Duty free imports on certain items
- Major tariff reductions on chemicals, pharma, textiles, packaging machinery
- Strong focus on infrastructure development
- Simplified documentation procedures (e-filing)
- FDI allowances and limits raised
- Opening of FDI in mining, retail, and pensions under review
- Import of second hand capital goods without age restrictions
- Aggressive telecom policies
Best Export Prospects
- Airport and Ground Handling Equipment
- Computers and Peripherals
- Education Services
- Electric Power Generation, Distribution and Transmission Equipment
- Food Processing & Cold Storage Equipment
- Machine Tools
- Medical Equipment
- Mining and Mineral Processing Equipment
- Oil and Gas Field Machinery
- Pollution Control Equipment
- Safety and Security Equipment
- Telecommunications Equipment
- Textile Machinery
- Water Treatment
Specific Business Opportunities
- Software development & related Services (BPO)
- Automobiles & components
- Textiles, garments and home furnishings
- Leather based products
- Agro / food Processing
- Bio-Technology, Pharma & Herbal based products
- Software & Electronics
- Chemicals & Petrochemicals
- Roads & minor Port development
Some advice on Doing Business in India
- Find good partners who have knowledge of the local market and procedural issues.
- Study the Market & Competition.
- Good planning.
- Aggressive due diligence and follow up.
- Patience and commitment.
- Obtain Export Counseling.
- Understand the rules, standards and regulations.
Visit www.iaccgh.com for the complete presentation and
www.export.gov/indiamission for details on the Nov 2006 Mission led by Undersecretary Levin
or contact Duaine Priestly, Director, Houston USEAC at Tel 281 449 9406
Pictures: by Bijay Dixit
1)Chief Guest Consul General Gavai at the mike. On the dais Rotary President Vicki Brentin, Jagdip Ahluwalia, Dr Durga Agrawal, Keynote Speaker Dr Abdul Shaik, Tariq Khan(Sponsor Nationwide) and a Rotarian of the host Roatry Club.
2)CG Gavai recognizes Nationwide Financial Services representatives Tariq Khan and Cheryl Creuzot
3)Dr Abdul Shaikh, Keynote speaker
4) CG Gavai recognizes Rotary President Vicki Brentin
5)Chris Dunbar winner of the Continental Airlines Domestic ticket
6)The 200+ strong audience gets ready for the luncheon