CII Communique - October, 2010

india & the worldCII SME Business Delegation in front of the White House, USAThe recently launched Indo-US SME Forum will engageCEOs from midsize companies in each country towork towards facilitating a policy enabling environmentfor SMEs, highlighting the concerns of SMEs in USAand India, leveraging technology and sourcing, findingopportunities for bilateral commercial engagement, andstrengthening the global supply chain managementsystems.It is evident that links between component / sub -systemmanufacturers in both the countries will be imperativeto take Indo-US SME co-operation forward. Also, thecontribution of SMEs in trade engagement as well ascross border M&A is increasing. Involving SMEs fromboth sides will help in achieving bilateral trade targets,said Mr T T Ashok, Leader of the CII delegation andDeputy Chairman, CII Southern Region. He added thatUS companies would find it useful to invest in the IndianSME sector, as there are many synergies between thetwo sides. Indian SMEs represent a good low-investmenthigh-return opportunity for US SMEs, who can sourceniche products from here. Indian SMEs are flexible,reliable, quality - conscious, and adaptable, he said,adding that Intellectual Property Rights are well-respectedin India, too.The next phase of growth in India-US bilateral economicrelations will come from the SME sector. The USDepartment of Commerce has initiated a Growth inEmerging Metropolitan Sectors (GEMS) programme toaccelerate business growth, and will form great marketsfor US and Indian businesses. With President Obama’sforthcoming visit to India, we want to take Indian andUS businesses to the next level of partnership, saidMr Chandrajit Banerjee, Director General, CII.He added that the SME Initiative presents a ‘winwin’opportunity for both sides and enriches theglobal value chain to mutual advantage, encouragingcompanies to explore beyond the well known metros.High-technology Indian firms involved in areas suchas nanotechnology, software and IT services, precisionengineering, design and research, etc. match wellwith US competencies. Conventional industries suchas auto components, chemicals, pharmaceuticals,textiles and apparel, food processing, etc. wherethe US enterprises have strong capabilities are alsosectors of high performance in India. Therefore, astrong partnership of the SME sectors of the twosides is natural, said Mr Banerjee.The 25 member CII delegation included entrepreneurswith interest in diverse sectors such as Energy –Power Generation and Distribution, Nuclear, as well asRenewable Energy, Cement, Mining, Steel, Metallurgy,Education & Training, Information Technology, Media,Entertainment, Manufacturing, Automotives, Engineering,Food Processing, Retail and Agri Business from acrossIndia. During their business-to-business meetings, thedelegates interacted with their counterpart organisationsfrom the US to explore opportunities for bilateral businesscooperation such as Joint Ventures, collaborations andtechnology transfers.The CII delegation was hosted by the Chicago Councilon Global Affairs, the US India Business Council,the World Resources Institute, the Indiana Chamberof Commerce, the Indiana Economic DevelopmentAuthority, the Cincinnati USA Regional Chamber, theOhio Department of Development, and the India USBusiness Alliance.8 | October 2010 Communiqué