Preparing Miami’s link to India markets
Written by Samantha Joseph on August 8, 2013
Each session at a Sept. 27 “Doing Business in India” workshop will be a primer for a November trade mission that will expose South Florida small businesses to a market worth $100 billion, organizers say.
The India-USA Chamber of Commerce Inc. South Florida is planning the workshop at St. Thomas University to discuss business opportunities for local firms looking to enter the Indian market, outlining four economic sectors — education, travel/leisure, real estate and healthcare — with the best growth potential and highest return on investment.
With inbound and outbound tourism from India growing about 15% annually, for instance, the area could be fertile ground for Miami promoters.
“What we are expecting in September is to arouse interest in India, not among big corporations because they’re already in India. We’re trying to attract the smaller companies who don’t know much about India. India and China are already the two leading world economies at the moment,” said Madhu Mehta, the chamber’s president. “In our own little modest way, we are going to inform South Florida what India is looking for in those four key sectors, such as real estate, which is the biggest thing in India right now and is really booming.”
Ani Agnihotri, founder and managing partner of USA India Business and Research Center and a speaker at the upcoming conference, said companies should develop a mid- to long-term approach when entering India.
“About 350 of Fortune 500 companies have a fledgling business in India for a reason: world’s most promising market,” he said.
When it launched it 2004, the India-USA Chamber was Ms. Mehta’s attempt to create networking opportunities for local business owners and promote trade between India and South Florida. The nearest Indian chamber had been in Jacksonville and the closest consulate is in Houston, which gave South Florida investors little choice but to look elsewhere to learn about opportunities in India. The local businesswoman, who operates German textile design company India Silk, had started 27 similar organizations in Europe before moving to Florida.
Today, the South Florida branch has 200 members and annual galas such as the one planned for Oct. 12 at the Hyatt Regency in Coral Gables, where Consul General of India Ajit Kumar is to be the guest of honor.
The Sept. 27 meeting is set for 9 a.m. to 5 p.m. and costs $125. Early registration is available. Sessions include key sectors; company entry options and regulations; and trade and investment climate. Organizers will also discuss plans for a trade mission to India in November.
Details: (305) 931-8257