Webinar Exploring Business & Investment Opportunities for Indian & US SME and Manufacturing Sector

Welcome & Introductory Address
Mr. Chandrakant Salunkhe – Founder & President, SME Chamber of India and India-US SME Business Council
Mr. Salunkhe emphasised during his welcome and introduction speech about the role of both the organisations and objectives of the webinar, which were focussed on to explore the emerging business and investment opportunities for Indian and US SMEs and manufacturing industries, as well as highlighted various advantages and initiatives of Embassy of India in US and US Embassy in India, for the enhancement of bi-lateral trade, business cooperation and in & outbound investments and to comprehend various issues and hurdles, while doing business in both the countries.

He has also mentioned about various initiatives of the Chamber and the Council, pertaining to SME Sector for establishing and enhancement of business, export promotion, identifying partners for joint venture, technology transfer, contract manufacturing, marketing, franchise, distributorship, invention, innovation and research & development with US companies. The Council has set up a dedicated information desk, with experienced and knowledgeable executives, to provide support and assistance to Indian companies, to explore business opportunities in the US Markets. The Council has also planned a large number of delegations of SME sector to attend “SelectUSA” event and also visits to other cities to meet potential business partners and executives of Economic Development Corporations, for investment and setting up manufacturing industries. He has also requested both the representatives of concerned Embassies, to provide guidance and support to Indian SMEs.

Mr. Salunkhe has also announced that the Chamber and the Council have jointly set up “India-US SME CEO Forum”, to provide regular platform to explore discussions & interactive meetings, on various sectors, topics, issues, grievances, emerging business & investment opportunities, advanced & patented technology, repercussions of Industrial revolution and digital transformation on SME sector, exports, imports, challenges and opportunities for start-ups and investors, setting up manufacturing units, joint ventures, technology transfer, contract manufacturing, taxation, customs, shipping, logistics, supply chain management, as well as various aspects related to business, industry, Government bodies, regulatory bodies, banking, policies, schemes, trade barriers and restrictions on the trades. This platform will be very useful for SMEs from both the countries, to express their ideas, products, services, grievances and their suggestions, for creating level playing fields for the SME sector. Rather, this has also debated during United States – India Trade Policy Forum attended by the Hon’ble Commerce Minister of India, Mr. Piyush Goel and Ambassador, Ms. Katherine Tai, United States Trade Representative to address various issues, related to SME sector on a priority basis, since the Hon’ble Prime Minister of India is giving more attention and importance to support and empower the Indian SMEs for better business growth. This Forum will be organising regular webinars, conferences, visits of the delegates to various States, exhibitions and participation in various business conferences in India & USA, as well as interactive sessions with the Government officials and its agencies.

Keynote Address
Ms. Aileen Nandi – Minister Counselor for Commercial Affairs, U.S. Commercial Service, New Delhi, India
Ms. Nandi in her keynote address mentioned that India is an important country and their trade partner and we would like to focus on Indian SMEs to explore their business cooperation in the US Markets. With the appreciation note of the initiatives of the Chamber and the Council, for organising timely discussion, which is very beneficial to SMEs, to identify business & investment opportunities in the US Markets. She has mentioned that during the pandemic exports have increased from India to US of around $150 bn, because of Indian SME sector. Now US is focussed on SMEs and concept of SME is a very different definition. There are about 500 companies in different sectors. 74% of US SMEs have offices here and hope to connect with the Indian partners. Most of them, cannot work without us. We have to work with Indian companies, who look to set up companies in USA. We look up at TATA, Mahindra and all of them and even medium sized companies also. SMEs are economic engines and backbone for growth. Here only 2% are involved in export business. I am excited about products and technology, when I talked to them. They are looking at India, which is a big country. They do not know to which city to go, how to find out partners, etc. and how to go there and doing shipping, etc. Here, now the credit is a big issue. Companies come here and we hold series of meetings with them and help them out. We help them regarding contract, identify any partner and we follow up with them. Here, we find that more jobs are in SMEs. Now they rely on virtual world. They are comfortable at home, doing work in India, Germany, etc. and lot more work virtually. Now doing business via virtual. Even in India also. International flights have opened up and India is a focussed country for us.

We are engaged in US and India in dialogue commercially, at a high level, setting up themes for the commercial dialogue for ease of doing business in India and US. It is really exciting that US commercial dialogue with India. India need to invest in trade, create partnership and very much recognised by working together. Our companies to become more competitive in this way. US companies need a lot of hand holding as SMEs are subject matter experts, they know their own products, need lot of consulting companies to work in order to understand how the business is done. Now Indians are increasingly competing for foreign investments, each State here has different packages and that is great to see. How to know the background and find out a foreigner SME doing business here. Think of partnership, licence for partnership, signing JV with various ways for doing business. Some sort of partnership, it is really good.

We have sent number of suggestions, held discussions due to SMEs variety of factors responsible for that. Facing tremendous pressure, some of them are fighting for survival, supply chain issues, etc. and working towards that. Lot of them in health care sector, energy sector, aviation sector, etc. facing problems due to pandemic. Trying to get more companies here, getting interested now through virtual platform.

Ms. Aileen Nandi in her closing remarks appreciated the initiatives of Mr. Salunkhe for setting up “India-US SME CEO Forum” to provide platform to Indian and US companies and SMEs for further dialogue and establishing business cooperation. US Embassy will definitely support this kind of initiatives which is beneficial to SME sector.

Keynote Address
Ms. Suja K. Menon – Minister (Commerce), Embassy of India, Washington DC, USA.
Ms. Suja Menon, while sharing her thoughts on the theme of webinar, she has mentioned that Indian SMEs should look at seriously to tap the opportunities available in US and around USA. Especially after the pandemic, the world will look at India as a lucrative trade partner and SME sector of India being an economic engine and a large contributor of industrial outputs and exports will play important role. We, as an Indian Embassy will be happy to support Indian SMEs to resolve their issues, while expanding their business in USA, as well as will guide them to explore potential business opportunities in a specific sector. There is lot of potential to do more trade strategically, which is growing over the years and potentially catching up. SMEs are transforming business activities and focussing on innovation.

India – US SME CEO Forum would be a good set up and will be useful for the diplomatic missions to understand trade barriers and grievances. I would finally say and emphasise that three ‘T’s – trade, technology and tourism, are three sectors and which are useful for the SME sector to enhance their business contacts and opportunities.

We have lot of strengths, as far as Indian SMEs are concerned, at a relatively less cost, engaged with the technology solutions. We have a challenge. US is a regular market in its operations i.e. food and drug sector. We have lot of restrictions from FTA. Indian exporters are being affected through this. It is very important to understand market and customers. Lot of exporters from India want to enter in to defence and aero-space, etc. Sometimes, small products but important ones. We could work on other things also. Industrial organisations in US encourage and they are part of Chambers, they do lot of work. In this pandemic, we keep fingers crossed and now the things have opened up potentially, to do more and in terms of supply chain business, economic developments, we make use for these a lot more together.

Address by Dignitaries
Mr. Joseph C. LeBas Jr. – Chairman – USA Region, India-US SME Business Council and MD & Founder, Concorde Group Holdings, LLC, USA
Mr. Joe Lebas has expressed positive approach by both the representatives of the diplomatic mission, towards enhancing business co-operation and giving more importance to SME Sector. He has also mentioned that the US market is very unique and vibrant market and SME sector from India should take advantage of the opportunities, developed after the pandemic, especially for manufacturing sector, exports and investment. Most of the Indian entrepreneurs are looking for secured investment in USA and therefore, EB5 program is the unique opportunity for SME entrepreneurs, who are looking for business opportunity, quality lifestyle, education for their children and of course, for establishing business connections for better future. The Council has planned many activities and support services, for the benefit of Indian and US SMEs and I invite the interested SMEs to explore Council’s platform, to establish and enhance their business and international trade.

Dr. Rajendra Jagdale – DG & CEO, Science and Technology Park Dr. Jagdale has expressed his thoughts about providing support to Indian companies and start-ups to promote and market their advanced technology, innovative products and capital goods for US markets. He has also mentioned that Indian companies are facing more difficulties, for selling their technology in the US market and he has requested both the heads of Commerce Division of Diplomatic Mission, to look into this matter. He has also mentioned that Indian Start-ups are having tremendous opportunities in US markets and if they are looking for particular support and guidance, they can avail through the Science Park and through the Council.

Dr. Ajay K Jha – InnoP Global LLC, Startup Incubator / Accelerator, Colorado USA Dr. Ajay Jha has also endorsed the views of Dr. Jagdale and mentioned that his company will also be happy to support Indian SMEs and Start-ups to spread their wings in the US markets. May be many institutions in USA are looking for potential and energetic SMEs and Start-ups to start their business ventures and they are willingly ready to extend hand holding and incentives.

Watch the Recording of the Webinar