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INDIA CHAMBER OF COMMERCE,
USA (ICC)
Minneapolis, Boston, New York, INDIA (Mumbai, Delhi, Pune,
Chennai, Cochin), UK, UAE
India and the Midwest
“An Economic Partnership”
At Indian Consulate, Chicago (Feb. 18, 2015)
Seann Nelipinath
Founder & Chairman
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INDIAN Economy
• Understand the fastest growing economy
+ 12th largest in terms of the market exchange rate at $1,430.02 billion
(2010 India GDP)
+ 4th largest PPP (Purchasing Power Parity)
- Concerns: Poverty, Income disparity
• Areas expected to make progress Growth rates in these sectors are
expected
to increase
• Manufacturing, construction of ships, aviation
• Healthcare-Life Sciences, pharmaceuticals, biotechnology, agro-sciences
• Telecommunications, nanotechnology, tourism, retailing
• Needs focus on achieving:
• Higher levels of health, education and skills development
• Create environment for rapid growth in economy and enhance quality
employment
• Develop opportunities to meet needs and aspirations of the youth
• Develop mediums for aging population
Wednesday, Feb. 18, 2015
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INDIA – talk of the TOWN, Globally
• Focus is on Education, health, water, energy, roads, economy and infrastructure development.
• Plan for 100 smart cities.
• Aiming for stronger economic growth
• Govt. wants to push for UN reforms and seat on UNSC
• Rising relations with SAARC countries, raises expectations
• Bhutan and Nepal sees “firm posture of India” with golden opportunities
• Increase the Indian Army's ammunition reserves
• Shifting young agro-dependents to small and large scale industries through skills development
• Bloomberg reports: Climate Leadership, Solar Power, Smart Cities, Road Safety, India’s Youth
Wednesday, Feb. 18, 2015
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INDIA – Study and Reports
Wednesday, Feb. 18, 2015
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INDIA – Study and Reports
Wedne sday, Feb. 18, 2015
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Investors – What are they doing in India?
Wednesday, Feb. 18, 2015
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INDIA’s International Economic Relations
• Budget 2015 expected to favor more foreign investments in to India
• 'Make in India' campaign to drive setting-up of manufacturing facilities in India, in turn, will create jobs
and demand for talents
TRADING WITH INDIA’ (POLICIES & FDI):
• Proposal cleared to allow 100 per cent FDI in railway infrastructure, excluding operations
• RBI framework for investments allows foreign portfolio investors (FPIs) to take part in:
• open offers, buyback of securities and disinvestment of shares by the Central or State Governments.
• Expected increase in foreign investment inflows – both FDI and FIIs – to above US$ 60 billion in the
current financial year, as against US$ 29 billion during 2013-14," according to an economic study
• India requires FDI of US $1 trillion by 2017, to fund infrastructure growth for building highways, ports
and airways
FUTURE OF BUSINESS WITH INDIA WITH THE NEW GOVERNMENT:
• India aims to reach US$ 10 billion in telecom products and services exports in five years by 25 per cent
compound annual growth rate (CAGR) increase in exports, according to Secretary, (DoT), GOI
• India to push for engineering exports to east Africa via Kenya
• India to embark on a larger role in Asia-Pacific
Wednesday, Feb. 18, 2015
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US Corporate and Business Expectations from new GOI
• Industry needs simple, easy-to-comply laws that makes it easy to establish a business
• Need business-friendly, ensuring transparent governance and streamlined CSR (towards citizens basic
needs of education, health and sanitation)
• Financial inclusion beyond banking infrastructure. Also business-like government results in higher
economic growth with significant value from inclusiveness resulting due to multiplier effect
• Renewed investment in infrastructure, health, education etc., and streamlined FDI approval process for
large projects and conforming tax policies (such as removal of imposing retrospective taxes) with faster
environment clearance.
• Encourage and allow agriculture and manufacturing knowledge partners to engage locally.
• Getting right people at the right place to create jobs and create demand.
• Increase the FDI limit in areas like insurance from 26 per cent to 49 per cent, including technocrats,
people who understand the sector and are able to deliver, with streamlined governance.
• Develop system for overseas investors to get a response when they voice their concerns
Wednesday, Feb. 18, 2015
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Changing Landscape and Readiness Plans for
US Midwest Businesses
+ Midwest States possess significant strengths in key areas such as Manufacturing, Healthcare & Life
Sciences, Agricultural Sciences, Education, Entertainment-Art & Culture, Oil & Energy, Water, Logistics &
Distribution, Infrastructure, Aviation, Financial and Investment sectors
+ Minnesota alone has 19 Fortune 500 corporate HQ’s (such as 3M, Cargill, Carlson, Medtronic, etc.)
- Lacks Collaboration for Joint Development and Venture Programs
Minnesota timeline:
• 2015: Hosting - Healthcare & Life Sciences Summit in May and
• 2015: Delegation to Milan (attend Worlds Fair), Dubai (business), India (business)
• 2015: Creating - a platform for Global Cyber-Security Center of Excellence in Oct/Nov
• 2016: Hosting American Healthcare & Life Sciences Conference – Summer
• 2016/7: Hosting Bollywood & Jazz festival
• 2018: Hosting - Super-Bowl
• 2020: Participation in Dubai World Fair
• 2023: Planning to Host – US-Minnesota Worlds Fair (bid preparation in progress)
• 2027: Planning to Host - Winter Olympics in 2018
Wednesday, Feb. 18, 2015
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THANK YOU
LEARN MORE & CONNECT WITH US
INDIA CHAMBER OF COMMERCE, USA
www.indiachamber.org
US GLOBAL LEADERSHIP COALITION
http://www.usglc.org/downloads/2012/03/USGLC-Minnesota-Advisory-Committee.pdf
MINNESOTA WORLD’S FAIR
http://expo2023.info/overview/legacies/
Wednesday, Feb. 18, 2015
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