Focusing on business in India, a top priority

Mumbai, Jan 22 | Updated: Jan 23 2007, 05:30am hrs
The tripartite partnership between India, Singapore and the US would take the economies to greater heights and accelerate economic growth, said V Rangaraj, executive committee member, Ficci-WRC. Rangaraj was speaking at a meet with the members of the American Chamber of Commerce (Amcham), Singapore in Mumbai on Monday.

Amcham (Singapore) has 2,400 members from about 600 companies, representing American interests in Singapore. At a recent poll, a majority of the Amcham members had voted for focusing on business with India on a top priority basis, and were bullish about doing and enhancing business with India, Douglas Miller, chairman, Amcham, Singapore.

The Indian economy is very well suited to the small and medium American companies which may have difficulty in operating in the saturated western markets. With vast technical and managerial skills available in India, Indian and American SMEs can join hands both as complementary and supplementary partners, to cater not only to the Indian market but also the untapped markets in Asia and Africa, said Nanik Rupani, co-chairman, Ficci-WRC in his welcome address.

He also mentioned that the Indian arms of the two American banks, Citibank and Bank of America, were more profitable in India than in other countries. Rangraj said that embedded software was an area where India had an edge as many American companies had established their R&D centres in India to develop high-end technology components and embedded software products for the global market.