Chennai, January 30, 2018:The SME Sector in its Budget Wish list anticipates that Union Budget 2018-19 will identify, encourage and allocate specific projects for nurturing Indian SMEs and announce easy accessibility of finance by introduction of new instruments for affordable SME sector loans.
In a Press Release issued here, Global Trade Driver (GTD) a Chennai based Forum promoting international business networks also expects that Budget will provide incentive schemes for those Indian SMEs keen to tap international markets like USA for segments like Engineering goods, Pharma, Textiles and Garments, IT & BPO and Services sector etc.
GTD further emphasized that that delivery mechanism of these projects should be ensured. While government has taken some initiatives but still major reforms needs to be done and more importantly, investing in continuous training and education of SMEs is very crucial to see big successes.
Keeping this in mind, GTD mounting a 20 member high-level MSMEs segment business delegation to USA in April 2018 to promote trade ties and JVs between Indian and US MSME companies, said Mr. D.V. Venkatagiri, CEO, GTD.
This business delegation is supported by with Andhra Chamber of Commerce, Richards College of Business, Smith Gambrell & Russell LLP, TransAtlantic Sales respectively from USA.
During delegation visit to USA, Indian MSMEs firms will explore opportunity in US Market in areas such as Engineering, IT and BPO, Pharma, Leather, Education, including Textiles & Handicrafts and Supply Chain Management.
There is clearly tremendous opportunity to expand trade relations between India and the U.S. To greatly expand trade, there will need to be more U.S. investment in the Indian economy (and vice versa). Also, the two countries would need to work to reduce trade and capital barriers.
The delegation will also have B2B Meetings with Carroll County Chamber of Commerce, West Georgia Companies, USA Warehouses, Network Meetings with Indian & US companies, Interaction with Chambers of Commerce & Industry Association, added Mr. D.V. Venkatagiri.
GTD in association with Richards College of Business, USA also designed a Programme with special focus on Small & Medium Enterprises titled, “Fundamentals of Market Entry into USA & Establishing Business in USA”, to explore new possibilities for Indian companies.
Bradley J. Prince, Ph.D, Associate Dean & Professor of MIS, Richards College of Business, USA invited Indian MSMEs companies to participate in this important delegation and to achieve their goals, Global Trade Driver will organize business meetings with US companies keeping in view of areas of interest.
Michael Hartmann, President, Transatlantic Sales, an incubator in USA assisting many International firms including Indian Companies to establish and expand in the US said, “Indian mid-sized Companies have huge opportunities in the US provided they do proper home work and long-term planning.
According to Bradley J. Prince, “small and mid-sized companies in the Indian & US markets have great opportunities and this needs to be multiplied by enhancing share of trade market by building strong relationships & explore further”. The Micro, Small and Mid-sized Enterprises (MSMEs) have huge opportunities in the US Market if they can position themselves properly.
Indo-US business is growing rapidly and needs to grow much quicker. India should rank much higher on the list of US trade partners. India continues to emerge as one of the most important markets in the developing world and an important trading partner for the US. This is evident by the four-fold growth in the India-US trade since 2006 to over USD 100 billion now. With India emerging as the most sought after developing market and an important partner for the US, the bilateral trade between the two countries is likely to touch $500 billion by 2025, a recent Survey said.
Corporate Comm India(CCI Newswire)