More than 150 Indian business leaders attended a forum designed to help Indian companies explore options for expansion into the United States. At the event, titled â€śIndo-US Alliance: US Business Opportunities for Indian Companies in ICT, Defence and Homeland Security,â€ť executives heard from representatives of Fairfax County EDA and several Indian companies including Grintex and Rolta International that are using Fairfax County, Virginia, as a US touchdown point and base for further global expansion.
Online PR News – 15-May-2010 – – Bangalore, 12 May 2010 â€“ More than 150 business leaders today attended a forum designed to help Indian companies explore options for expansion into the United States. At the event, titled â€śIndo-US Alliance: US Business Opportunities for Indian Companies in ICT, Defence and Homeland Security,â€ť executives heard from representatives of Fairfax County EDA and several Indian companies including Grintex and Rolta International that are using Fairfax County, Virginia, as a US touchdown point and base for further global expansion.
The Governor of Karnataka, Sri H.R. Bhardwaj, was the Chief Guest and addressed the event at the Lalit Ashok Hotel about Indian-US business relationships. Ms. Rebecca A. Seweryn, the US Vice Consul General, addressed bilateral trade and business issues.
The Fairfax County Economic Development Authority (FCEDA) in Virginia and its Bangalore office organized the event. Partners were Grintex, the US law firm of Patton Boggs LLP, Tata Communications, HSBC Global Banking and Markets, and the Grant Thornton consultancy. The Indo- American Chamber of Commerce, Bangalore Chamber of Industry and Commerce and the Services Export Promotion Council created by the Government of India supported the event.
It was announced that Newgen Software, a leading provider of BPM, ECM and DMS solutions, Grintex which provides technical solutions, infrastructure support and logistical services in defence, aerospace and satellite technology markets & Vasu Exports, a company that specializes in supplying Furniture worldwide are setting up their operations in Fairfax County.
Describing how his company decided to expand overseas and why they chose the Fairfax County area for a US location, Mr. H. Gautam, Director, Grintex India Ltd. He said: â€śGrintex views a strategic location in Fairfax County as a very important step for being close to the US customers and exploring the market. Setting up Grintex in Fairfax County was a well considered decision for us due to its vast concentration of companies with high end technology solutions and the business prospects in the federal, provincial and local government agencies.â€ť
The conference also included a Panel Discussion on â€śThe business opportunities in the US market-ICT, Defense, Aerospace, Homeland Securityâ€ť participated by Mr. MKHH Jeelani, CEO, Winconsulting, Channel Partner - HSBC Commercial Banking, Mr. Klaas Oskam, Associate Director - Transaction Advisory Services, E&Y, Mr. Rajesh Sharma, Director General, SEPC- Govt.of India and Brig. (Retd.) Ashok Gakhar, Rolta India Ltd. Mr. Anurag Verma of US based Patton Boggs LLP was the moderator for this discussion which discussed how to take advantage of the US business opportunities and role of various agencies, eco-system and the process involved.
"Our mission was to pack this event with substance and vision from beginning to end, so that the leaders of Indian technology companies wanting to spread their wings in the US, particularly in the Washington DC region, will walk away, informed and inspired,â€ť said Mr Narendra Sarawgi, Director of the FCEDA India office and Founder Director of Innoversant Solutions. He added â€śThis was a unique opportunity for Indian companies with global ambitions to gain insights into what the Fairfax County in the US has to offer and particularly the oft ignored opportunities of doing direct or indirect business with the US federal government, worldâ€™s largest buyer of products & services with annual purchase in excess of USD 500 billion.â€ť
Ms. Srividya CG, Partner, Grant Thornton, delivered a presentation on the Strategic Acquisitions and Partnerships between India and US. Speaking on the occasion, she said â€śFrom a strategic M&A perspective, the largest volume of transactions can be attributed to US, for both inbound and outbound deals with Indian companies over the last 6 years. The inbound as well as outbound acquisitions between India and US are bound to grow in the near future. We hope to see several more Indian businesses capitalise on the synergies that the combination of the two economies offer.â€ť
Rolta, which provides geospatial, GIS and engineering services, was the featured company in a panel discussion that described market-entry strategies surrounding international expansion. Panelists from HSBC, SEPC, and Ernst & Young discussed the legal, financial, operational and taxation issues involved in expansion in the US.
Mr.Alok Bardiya, Global Head (Strategy & Marketing), Enterprise Segment at Tata Communications, delivered a presentation on the importance of communications services for globalised companies.
Speaking on the occasion, he said, â€śWe are pleased to be a part of this event. Communications is the lifeline of todayâ€™s globalized world and we, at Tata Communications, continue to enable Indian and international companies doing business with the US. As a global telecom company, we see the United States as an increasingly important market for our enterprise services as well.â€ť
Mr. Siddharth Sarawgi, director of Fairfax County EDA in India and CEO of Innoversant Solutions informed â€śBesides the commercial segments, Fairfax County offers USD 22 billion plus opportunity from the US federal government, a major part of which is cornered by the technology companies in ICT, defense & homeland security. More than 15 Indian companies are in active discussions with us to set up in Fairfax County in the near future.â€ť
The growing trade relation between India and the US is driving greater opportunities for multinational Indian companies to invest and expand their business in the US. The seminar highlighted Fairfax County, just outside Washington DC, as â€śground zeroâ€ť in areas of defense, homeland security and ITC services where Indian companies can leverage their resources and advantages. More than 20 Indian companies (along with more than 330 companies from other countries) have an office in Fairfax County. The FCEDAâ€™s marketing office in Bangalore opened in 2004. The Bangalore based management consultancy firm Innoversant Solutions Pvt. Ltd. represents FCEDA in India.
Many Indian companies are a part of the dynamic, diverse and cosmopolitan business community in Fairfax County, the business and technology centre of the Washington, D.C., area. Some of the Indian companies present are Tata Communications, TCS, HCL Technologies, Infosys, Satyam Computers, TCS, Wipro, etc
In addition to its office in Bangalore, the FCEDA has offices in the important technology centers of Frankfurt, London; Seoul and Tel Aviv.