2005 04 11 India

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Information about 2005 04 11 India
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Published on January 31, 2008

Author: Silvia

Source: authorstream.com

INDIA Huge Opportunities for U.S. Firms:  INDIA Huge Opportunities for U.S. Firms John E. Peters Minister-Counselor for Commercial Affairs. U S Embassy , New Delhi (April 2005) Network of 7 U.S. & Foreign Commercial Service (USFCS) offices across India (New Delhi, Mumbai, Chennai, Kolkata, Ahmedabad, Bangalore, & Hyderabad) Most extensive USFCS operations outside of the U.S. 43 professional staff to help U.S. Companies export Successfully assisted 690 U.S. companies export to India in FY 2004, of which 86% were small & med sized firms. India At A Glance:  India At A Glance GDP: $600 billion Growth: 7% in 2004-05 (Services equal approx 50% of the GDP; manufacturing 25%, and agriculture equal 26% Population: 1.065 billion (Urban population- 28.4%) Per capita income: $539 in 2003-04. Youth Power: Over 58 percent of the Indian population is under the age of 20. That is over 564 million people, nearly twice the total population of the US Direct Sales: Approx $434 million; employs more than 1.24 million sales persons Retail Mkt Size: $180 billion (only 3% is organized retail) Growth of Malls: 220 shopping malls by 2006 from 25 in 2003; Est. space: 40 mill sq.ft U.S. & Foreign Commercial Service, New Delhi Did You Know That India……:  Did You Know That India…… with a $ 600 billion GDP, growing at 6% annually (8% in 2003-04), is the world's 12th largest and one of its fastest growing economies is the world's largest democracy; approx 71% of India's population is under the age of 34 has a middle class of approx. 340 million and estimated to be growing at 5% annually is one of only three countries that makes its own supercomputers (the U.S. and Japan are the other two) is the world's second largest small car market U.S. & Foreign Commercial Service, New Delhi Did You Know That India……:  Did You Know That India…… is one of six countries that launches its own satellites; one hundred of the Fortune 500 have R&D facilities in India has the second largest group of software developers after the U.S. lists 8,000 companies on the Bombay Stock Exchange ; only the NYSE has more has eight firms on the NYSE and three on the NASDAQ is the world's largest producer of milk, and second largest producer of food, including fruits and vegetables by vol of pills produced, has the world’s 2nd largest pharma industry after China U.S. & Foreign Commercial Service, New Delhi Did you also know that despite much progress, India has:  Did you also know that despite much progress, India has some of the most systemic corruption some of the most chronic IPR violations despite progress, a 35 % illiteracy rate despite bumper crops and a food surplus, nearly 1/2 of all children are under- nourished 11 million children that are homeless about 300 million people living on less than a dollar a day 87,000 villages with no electricity 100 million families that don't have water at home 4% of the world's roads but 9% of the its traffic fatalities U.S. & Foreign Commercial Service, New Delhi US Merchandise Trade with India:  US Merchandise Trade with India U.S. & Foreign Commercial Service, New Delhi Total bilateral trade in 2004: $21.69 billion US merchandise exports to India in 2004: $6.1 billion – a 22.4% increase over previous year US merchandise imports from India in 2004: $15.56 billion US Service Trade with India:  US Service Trade with India U.S. & Foreign Commercial Service, New Delhi U.S. Service Exports to India in 2004: $ 4.16 billion (estimated) U.S. Service Imports from India in 2004: $2.44 billion (estimated) CS India Export Successes:  CS India Export Successes U.S. & Foreign Commercial Service, New Delhi Top Ten US Exporting States to India - 2004:  Top Ten US Exporting States to India - 2004 U.S. & Foreign Commercial Service, New Delhi Foreign Direct Investment (FDI) in India:  Foreign Direct Investment (FDI) in India Close to 35% of FDI directed into the IT, and financial services sector Greatest source of FDI - Mauritius with approx. $ 7.5 billion between 1991 and 2003 U.S. is the next largest investor accounting for over $ 3.5 billion between 1991and 2003 U.S. & Foreign Commercial Service, New Delhi Indian Manufacturing Sector – Emerging Player in the World Mkt.:  Indian Manufacturing Sector – Emerging Player in the World Mkt. Contributes 25% to the Country’s GDP Manufacturing activity growth (2004): 8.9%. Long term annual grow estimates for the next 4/5yrs ave 7% Many leading MNCs have estd. Mfrg base and R&D centers in India Estimated size of the Indian Engineering sector: Over $30 billion High growth areas: Automobiles, steel, pharma, specialty chemicals, and knowledge based manufacturing – bio informatics World’s largest exporter of cotton yarn, the largest manufacturer of motorcycles/two-wheelers, the lowest-cost producer of steel, aluminium, cement, CDs, fourth largest car market and fourth largest pharma manufacturer.   U.S. & Foreign Commercial Service, New Delhi Outsourcing to India:  Outsourcing to India Key Sectors: Retail financial & banking services, Software, Insurance, Pharma, Telecom, R&D, Airlines, Engineering and Design Indian BPO Market size: Over $6 billion by end 2005; $ 21-24 billion by 2008 (Source: Nasscom-McKinsey) Growth Rate: 25% Number of Employees (2003-04): Over 254,000 Market Share – 25 % of the global BPO market Contacts: Federation of India Chambers of Commerce & Industries Confederation of Indian Industries National Association of Software & Service Companies U.S. & Foreign Commercial Service, New Delhi Reverse Indian Investment to the US:  Reverse Indian Investment to the US Total Indian investment abroad (1996 – Sept/04): $11billion; US share: 19% Since 1996, US attracted highest Indian direct investments Indian Investment to the U.S. (2004-05): $147 Million (26% share) U.S. & Foreign Commercial Service, New Delhi Trends in GOI Policy Changes – New Opportunities:  Trends in GOI Policy Changes – New Opportunities U.S. & Foreign Commercial Service, New Delhi Liberalized import policy – lowering of import tariffs, and simplified rules of import and investment. Peak basic customs duty reduced from 20 to 15%. A drastic reduction compared to a max of 150% before 1991. Removal of quantitative restrictions (QRs). Reduction of custom duties on equipment for projects from 25 to 10%. Duty free imports for certain items allowed under the Duty Exemption Scheme. Major tariff reductions for Med equipt., IT & Electronics, Org. Chemicals, Pharma, & Biotech Trends in GOI Policy Changes – New Opportunities (contd.):  Trends in GOI Policy Changes – New Opportunities (contd.) Strong focusing on infrastructure development; Simplified documentation and e-filing FDI allowed in large number of sectors & FDI limits raised in several sectors. 100% FDI allowed in housing, townships & construction dev. Projects. Opening of FDI in mining, retail, & pension under review Import of second-hand capital goods permitted without age restrictions Several States (Andhra Pradesh, Karnataka, Tamil Nadu) focusing on new businesses & entrepreneurs. Industrial parks &clusters are being established rapidly Aggressive policies in telecom to increase market U.S. & Foreign Commercial Service, New Delhi INFRASTRUCTURE DEVELOPMENT – Over $ 80 billion worth of construction in the next 10-15 yrs:  INFRASTRUCTURE DEVELOPMENT – Over $ 80 billion worth of construction in the next 10-15 yrs U.S. & Foreign Commercial Service, New Delhi Source: Construction Industry Development Council Environment Market – Huge Opportunities and Growing At 15% Annually:  Environment Market – Huge Opportunities and Growing At 15% Annually U.S. & Foreign Commercial Service, New Delhi India’s Energy Sector – Investments approaching $ 477 billion by 2030:  India’s Energy Sector – Investments approaching $ 477 billion by 2030 U.S. & Foreign Commercial Service, New Delhi BEST EXPORT PROSPECTS:  BEST EXPORT PROSPECTS Airport & Ground handling Computers & Peripherals Education Services Electric Power Gen, Transmission & Dist. Equipment Food Processing Equipment Machine Tools Medical Equipment (Arranged in alphabetical order) Mining & Mineral Processing Equipment Oil & Gas Field Machinery Pollution Control Equipment Process Control Renewable Energy Equipment Safety & Security Equipment Telecom Equipment Water U.S. & Foreign Commercial Service, New Delhi Leading Sectors for U.S. Exports:  Leading Sectors for U.S. Exports U.S. & Foreign Commercial Service, New Delhi Arranged in alphabetical order. Average Import Costs For General Products:  Average Import Costs For General Products U.S. & Foreign Commercial Service, New Delhi **Launch of VAT effective April 1, 2005, which replaces a multiple-rate sales tax system managed independently by individual states Standard rate of VAT: 12.5%. Reduced rates of 1% and 4% for certain product categories Top 10 U.S. Business Complaints:  Top 10 U.S. Business Complaints U.S. & Foreign Commercial Service, New Delhi Excessive government interference High tariffs and excessive indirect taxes – In agriculture, India’s bound rate of 112% is twice the global average and 10 times the U.S. average Corruption Restrictions on foreign investment; differential tax rates for foreign companies Substandard infrastructure with excessive cost Questions about “sanctity of contract” Weak protection of intellectual property Mid-govt rule revisions Unreliable transparency Regional decisions contradict Govt. of India policy The U.S. Commercial Service Makes IT Easy For You To Do Business!:  The U.S. Commercial Service Makes IT Easy For You To Do Business! Worldwide network - 157 offices in 83 countries 109 U.S. Export Assistance Centers (USEACs) throughout the U.S. Help with homework Comprehensive solutions to international trade challenges Introduction to overseas business partners Helping U.S. firms realize their export potential Advocates on behalf of U.S. businesses abroad U.S. & Foreign Commercial Service, New Delhi CS INDIA SERVICES - Professional counseling regarding market entry strategies - Advocate on behalf of U.S. business interests - Promote U.S. products in the Indian market:  CS INDIA SERVICES - Professional counseling regarding market entry strategies - Advocate on behalf of U.S. business interests - Promote U.S. products in the Indian market Country Commercial Guide International Partner Search Gold Key Service International Company Profile  Flexible Market Research  Platinum Key Services Market Research Trade Promotion Events Single Company Promotion Video Conferencing Catalog Shows Trade Missions U.S. & Foreign Commercial Service, New Delhi Important Websites:  Important Websites Business Chambers www.ciionline.org www.ficci.com www.amchamindia.com www.uschamber.com www.usibc.com www.nasscom.org U.S. Government newdelhi.usembassy.gov www.ita.doc.gov www.export.gov www.tda.gov www.exim.gov www.opic.gov www.buyusa.gov U.S. & Foreign Commercial Service, New Delhi Important Websites (contd..):  Important Websites (contd..) Indian Ministry of Commerce: http://commerce.nic.in/ Central Board of Excise & Customs: www.cbec.gov.in Indian Govt. Website Directory: http://goidirectory.nic.in/ Credit Rating Information Serv. of India: www.crisil.com Business Standard: www.business-standard.com/ Economic Times: www.economictimes.com Financial Express: www.fincialexpress.com Business World: www.businessworldindia.com U.S. & Foreign Commercial Service, New Delhi Contact Information :  Contact Information U.S. & Foreign Commercial Service (US&FCS) American Center, 24, K.G. Marg, New Delhi 110 001 Tel: 91-11-2331-6841 to 48 Fax:91-11-2331 5172 Internet: www.buyusa.gov/india Or www.export.gov/cs

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