India Beckons in 2010
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In 2010 where will you look for new opportunities for international trade? The so-called BRIC countries Brazil Russia India and China seem to be the first place. However some experts are starting to use the acronym BIC since Russia's interest and alignments seem uncertain.
India's economy showed unexpected strength in Q3 2009 growing at 7.9 percent. The slowdown following the crash of Lehman brothers in 2008 did not affect India much since its banks were secure and exports form a smaller portion of its overall trade than other BRIC countries. In 2010 India's government and private sector will have continued confidence to import American products and services. The Indian consumer loves American brands and is intrigued by American culture and this has created a latent demand for all things American if and this is a BIG if the U.S. company knows how to adapt to India
We see interest in American consumer products ranging from California pistachios to electronics franchises of any American services from training to restaurants to media properties magazines licenses of brands anything Hollywood to apparel and shoes to education and training to medical products.
On the business-to-business side energy infrastructure is a big push in India: clean energy coal-based plants nuclear power solar technology natural gas even oil to some extent. I write this as I am on a nuclear-industry trade mission to India since the country plans to spend over 60 billion on new plants in years to come. Defense related initiatives are also huge in India today. Boeing and Lockheed have recently won over 3 billion in contracts and are both serious bidders for almost 20 billion of current and upcoming RFPs ranging from helicopter to fighter planes to network-centric warfare support.
Living in California with a huge agriculture-related industry we should be cognizant that India is an active market for California produce almonds pistachios raisins are already shipped but many more products can be sold and for agriculture-related technology machinery processes fertilizers training. Improving living standards in India will continue to create new demand in India.
India's Prime Minister Oxford economist Dr. Manmohan Singh spent three days in DC just prior to Thanksgiving this was the first time that President Obama hosted an official state dinner the one that attracted the famous gatecrashing Salehi couple. Beyond national security alignment the primary discussion topics all revolved around business opportunity. The money is there friends. Are you ready to put in the effort to claim it?
