Brickwork India, the India representative of Fairfax County Economic Development Authority (FCEDA) organized the seminar on Global Expansion in Bangalore on July 23rd 2015. The seminar, conducted with the Indo-American Chamber of Commerce (IACC), highlighted the business opportunities in Fairfax County, Virginia – just outside Washington, DC – for Indian firms with IT services and solutions for the Cloud Computing, Big Data Analytics and Defence and Aerospace domains.
Seminar delegates were welcomed by Mr. Vasanth Kini, Managing Director, Titanium Industries India & National Executive Council Member- IACC. He gave a brief about IACC and the symbiotic relationship shared between IACC and Fairfax County Economic Development Authority since 2009.
The Fairfax Advantage
Mr. Asher Kotz, Manager, International Business Development, FCEDA, provided business perspectives on how Indian companies can leverage Fairfax County’s favourable economic climate. He said, “Fairfax has always welcomed business investment from across the globe, with 410+ foreign owned companies, the county now has a critical mass of more than 8,400 companies and has sustained strong regional economic growth. Located on the US east coast and with a strong transportation network, both on land and air, Fairfax is County is an ideal gateway to enter the US market for Indian firms.”
Moreover, Mr. Kotz has highlighted the growing opportunities in the county’s Cyber Security and Home Land Security (HLS) segment, and pointed out that companies doing business in the county bagged Federal contract deals worth $23.4 Billion in 2014 due to the presence of leading government contractors and Fortune 500 and Washington Technology 100 companies.
Giving a quick snapshot on the county’s business environment he said, “Fairfax County EDA provides a wide range of free and confidential services for companies at various levels, of assisting in market research, business plan development, organizing partner meetings, real-estate office space, introduction to, legal and tax consultations, company registration, and to hiring resources and marketing plans.
Fairfax and India – growing business communions
Mr. Satish Naidu, Sr. Manager (Research Group), Brickwork India, spoke on the Indian government’s “Make In India” campaign and the developments in the Indian defence sector. Emphasising on the success of various defence business deals under the present government, he highlighted the increase in FDI cap from 26% to 49%, the speed at which pending defence deals are getting cleared and various offset policies which has enabled Indian vendors’ partner with US Aerospace & Defence firms, which many of them have presence in Fairfax County. On increased US-India defence cooperation, he said, “The US has displaced Russia, Israel and France to become the largest arms supplier and inked deals worth over $10 billion since 2007.” Speaking on Cloud Computing opportunities, he said, “The County houses more than 150 companies that offer cloud computing solutions and services. “The US is the largest market for big-data spending, accounting for more than 50% of worldwide revenue in this sector. The Federal government is one of the largest users and producers of data with a big data spending of $5.0 billion in 2014,” he said.
Mr. Binu Thomas, Co-founder, Paladion Networks, a cyber-security firm, spoke on his company decision to located his headquarter office in Fairfax County. He said, “Business-friendly factors like the Dulles Technology Corridor (which is a business cluster having defence and technology companies), high tech talent availability, government opportunities, cyber security expertise and easy access to eastern sea board makes Fairfax an economically feasible business hub.”
Brickwork representatives thanked the partners and the delegates from various firms for their participation and involvement in making this seminar a success.
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Photo Caption: Brickwork India and FCEDA Representatives present at the Seminar