More than 100 people packed the Rutherford Room on the Metropolitan Campus for “Doing Business in India”, on February 7, 2013, demonstrating the intense interest in this dynamic market. Participants included representatives from every segment of the business community including manufacturers, banks, logistics companies and the full line of other service providers. The seminar was sponsored by UPS, CITI bank and Kallman worldwide trade show services.
According to Herb Ouida, Director of the FDU Global Enterprise Network and retired Executive Vice President of the World Trade Centers Association, India is a very challenging market but one with enormous opportunities for growth.
The program was launched by Rajiv Khanna a lawyer who specializes in international trade and is the President of the India-America Chamber of Commerce. He emphasized that India is a market “which cannot be ignored.” In addition to being one of the fastest growing emerging markets, enjoying annual growth rate of 6 to 8 percent while most of the world has been mired in recession, it also has witnessed a shrinking of those living in poverty by 300 million.
Mr. Khanna was followed by Dr. Devyani Khobragade, Deputy Counsel for the Consulate of India in New York. She concurred with Khanna’s appraisal of the market conditions as well as taking “head on” the issues of corruption and market protection issues. She noted that there had been significant opening of the market and that corruption was being met by new strong laws. Khobragade ended by emphasizing that a major consideration in trade should be a sharing of values. She noted that India and the United States enjoyed the same values which should lead to an increased and healthy business ties.
Art Stern and Susan Widmer, representatives of the US International Trade Administration, reviewed their services which range from counseling to detailed market research guides known as "gold key" services, and also how to protect your intellectual property in the foreign market
Steve Scaturro has the position of UPS Senior Manager of Cargo financing. He explained how UPS is in a very strong position to provide trade finance since it is very familiar with the transportation and logistics of the cargo. UPS works with Eximbank which provides working capital and other forms of trade finance. Once Eximbank provides the guarantee UPS provides the financing for transactions. UPS also has local offices in many overseas markets with a strong presence in Korea.
Rufiya Blank represented Kompass, which provides detailed and qualified information on companies all over the world. This is especially important to forming trade relationships as Kompass provides a detailed history of each company, as well as their contact information, assisting US businesses seeking qualified partners oversees.