Trade Mission Led by Private Sector Will Help Small and Medium-Size U.S. Businesses Expand in the Indian Marketplace
MEMPHIS, Tenn., -- FedEx Corp. is collaborating with the Commerce
Department's U.S. Commercial Service on a trade mission to India in November
2008 for U.S.-based businesses interested in expanding into the Indian
marketplace. FedEx is the first private-sector company to lead a trade mission
to India in conjunction with the Commercial Service.
With visits scheduled to New Delhi, Hyderabad and Mumbai from Nov. 9-14, 2008, the trade mission will enable U.S. businesses to better understand trade opportunities across key economic hubs in the country. In addition, it will help Indian companies looking to pursue new buying opportunities with American businesses.
“India is one of the best-performing economies in the world, and it is one of the top consumers of U.S. exports,” said Rajesh Subramaniam, senior vice president, International Marketing, FedEx Services. “By holding this trade mission, FedEx and the U.S. Commercial Service will provide U.S. and Indian businesses with valuable networking opportunities needed to grow their businesses and maintain a competitive edge in the global marketplace.”
The companies participating in the trade mission represent small and medium-sized businesses and sectors in manufacturing, transportation equipment, engineering, business services, consulting, architecture, information technologies, pharmaceutical, consumer goods, and more.
“India is a fast-growing market with enormous potential for increased sales of innovative U.S. products and services, contributing to jobs and economic growth in both countries,” said Israel Hernandez, Commerce Assistant Secretary and Director General of the U.S. and Foreign Commercial Service. “This trade mission is an important step toward strengthening U.S.-India business ties and enhancing fair, two-way trade between both our countries.”
As part of the trade mission, participants will meet with potential Indian business partners, agents, distributors and buyers to discuss opportunities through business appointments arranged by the U.S. embassy’s Commercial Service. While in the country, participants will also have access to:
- Leading business centers, a production site and an educational institution,
- U.S. and Indian business leaders successfully operating in India,
- U.S. and Indian government officials and business decision-makers, and
- Market intelligence and other relevant data to help determine if India is right for their business.
“FedEx is well-positioned to lead this trade mission because we
facilitate global trade in more than 220 countries and territories worldwide,”
said Jacques Creeten, vice president of India Operations, FedEx Express. “We
also have a significant presence in India. Now in our 11th year of direct
operations in India, FedEx offers the largest number of international flights to
and from India, as well as a dedicated ground network connecting more than 4,000
cities and towns across the country.”
From 2003-2007, U.S.-India trade has increased by 130 percent, reaching more than $41 billion last year -- and U.S. exports to India have more than doubled since 2005. Trade between the two countries is up 21 percent through the first half of 2008 compared to the same time period last year. American companies see excellent opportunities in part due to India’s average annual growth rate of more than seven percent, its fast-growing middle class of nearly 400 million consumers with growing purchasing power, and the country’s favorable impression of U.S. products and services.
Since 2004, FedEx and the U.S. Commercial Service have operated a joint trade promotion initiative to help simplify the complexity of international trade, particularly for small and medium-size businesses looking to source and sell in the global marketplace. In May 2007, FedEx and the U.S. Commercial Service renewed their commitment with a new 5-year agreement to continue their efforts to boost exports from U.S. businesses. To date, more than 13,000 clients have been exposed to the business of exporting.
More details about the India Trade Mission can be found at: www.fedex.com/thinkindia.