Chicago IL: The Consulate General of India, Chicago, in partnership with International Business Council, Illinois Chamber of Commerce, hosted an Executive Seminar on “Make in India Week” on Wednesday, February 03, 2016 at the premises of the Chamber. The Seminar was attended by nearly hundred leading business persons and entrepreneurs working in different sectors of economy in the US-Midwest, besides senior officials of the State of Illinois, World Business Chicago, Sister City International, Illinois Biotechnology Industry Organization (iBIO), the Chicago Council on Global Affairs, Illinois Chamber of Commerce, US-India Business Council (USIBC), US-India Chamber of Commerce, and the Kellogg School of Management.
“IMF in its World Economic Outlook sees India as the world’s fastest growing economy in 2016-’17, with GDP growth of 7.5%. India continues to be the Top Global Destination for FDI with 32% of investors ranking India as Most Attractive Market in 2015 while 60% placing it among the top 3 investment destinations”, said Dr. Ausaf Sayeed, Consul General of India in Chicago while highlighting the robust health of Indian economy. He said that at present India is considered as one of the most open economies in the world allowing 100% FDI in most of the sectors of its economy. He mentioned that Prime Minister Narendra Modi’s goal is “Reform to Transform” in order to make India the easiest and simplest place to do business by eliminating paperwork and easing out cumbersome procedures.
The Consul General stated that “Make in India” is one of the flagship programs of the Government of India which is aimed at transforming the Indian economy from services-driven to intensive manufacturing-driven growth model not only to increase productivity but also to promote India as an international manufacturing hub. He said that there are at least 30 key economic sectors which international companies can consider for setting up manufacturing bases in India, adding that the manufacturing sector in India offers USD one trillion of economic opportunity. The Consul General mentioned that there is considerable synergy between the States in India and those in the US Midwest which could be effectively utilized to boost the manufacturing sectors in both the countries.
A promotional film on “Make in India” was shown as a part of the presentation.
Hardik Bhatt, Chief Information Officer of the State of Illinois, said that Illinois is one of most important business partners of India. He said that as a leader in the field of education, global connections, and innovation ecosystem, the State of Illinois is keen to collaborate with India in developing smart cities, citing his recent useful interactions with the visiting high-level trade missions from the States of Andhra Pradesh and Karnataka.
Amy Hariani, Director and Legal Policy Counsel, US-India Business Council (USIBC), said that Prime Minister Narendra Modi’s Government has made steady progress to deliver on its promise of economic reforms. She stated that initiatives such as lifting of FDI caps in several sectors, reducing red tape, implementing a transparent tax environment, and improving the country’s intellectual property regime have sent a crystal clear message to the global investment community that India is ready and open for serious business. “The results of these efforts are also visible in India’s rise in the World Bank’s ‘Ease of Doing Business Index’. The US enterprises have also displayed their commitment to the ‘Make in India’ program in a number of areas such as defense, health, power generation, media and entertainment, and technology and have the potential to do much more”, she added.
Tom Kelly, Director of Government Affairs in Clark Hill’s Washington D.C. office and Kishen Kavikondala, President S.K. International, gave a joint presentation on introducing the American skilled training model to the Indian students.
Poonam Gupta, Founder and CEO of Iyka Enterprises, Inc., gave a presentation on simplifying technology for the manufacturing industry and customizable data management solutions to a specific, targeted market.
Brad Perine, Vice President of Marketing of M/S Esayfe, gave a presentation on software security applications to protect and secure sensitive data, while expressing their company’s interest to support the ‘Make in India’ initiative.
The seminar concluded with an interactive “Question & Answer” session.
The Consulate General of India, Chicago has since mobilized four major business delegations — one each from the States of Minnesota, Illinois, Michigan, and Missouri to participate in “Make in India Week”, scheduled in Mumbai between February 13 and 18, 2016.
Source: Asian Media USA
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