Governor Tim Pawlenty will lead a three-city trade mission to India in October

By DEEPANJALI KAKATI

A delegation of Minnesota business executives, led by state Governor Tim Pawlenty, will visit New Delhi, Bangalore and Mum-bai in October to explore investment and trade opportunities. "Strong economic growth is unleashing a wave of demand in India. From consumer goods to professional services, hi-tech to health care, machinery to processed foods-the prospects are abundant," says Governor Pawlenty. "It's important that we make these connections firsthand."

Among the many reasons for Minnesota to expand trade with India, he says, are the country's fast-growing markets, a middle class population with growing purchasing power and a huge youth consumer base that has an increasing desire for hi-tech products and services.

During the October 20-27 visit, about 30 business leaders will get a chance to promote increased exports to India, gather firsthand market information and contacts, and develop relationships with Indian business organizations like the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Confederation of Indian Industry (CII). Major participants include technology conglomerates 3M and IBM Corp-oration, speciality retailer Best Buy Inc., the fluid-handling and components firm Graco Inc. and Datacard Group, which makes ID badges and cards.

On the itinerary are several networking events; presentations on India's IT industry, the energy sector and the health care industry; and discussions and meetings with potential Indian customers and partners. The delegation also plans to visit the Fortis Hospital in New Delhi, the IBM Center and the Wipro campus in Bangalore, and the offices of the Tata Group in Mumbai. Minnesota's manufactured exports to India grew 208 percent between 2000 and 2005. Out of the state's total exports of $15.2 billion in 2006, India received $129.5 million in goods. It is these figures that the delegation will seek to boost. There is also strong potential for Indian investment in Minnesota. In 2005, Indian investors owned assets worth $1.36 billion in the United States, up from $277 million in 2002. Indian-owned companies in Minnesota include Suzlon Wind Energy Corporation and Wipro Technologies.

Also part of the visiting group is an 11-member governor's delegation which includes State Senator Satveer Chaudhary, U.S. Congressman Erik Paulsen and Gopal Khanna, Minnesota's chief information officer.

"This is an amazing opportunity, not only for Minnesota businesses to find new markets, but for the people of our state and the people of India to foster a more productive friendship," says Chaudhary, who helped set up the sister-state agreement between Minnesota and Haryana, where his family is from. "People have raised concerns about trade imbalances and things like outsourcing, which are all the more reason for this delegation to kick the doors open for Minnesota businesses to compete in the global marketplace."

Chaudhary adds that India's middle class is larger than the entire U.S. population, which makes those Indian consumers one of the world's largest untapped markets. "By taking this kind of initiative to establish better business relationships, I know Minnesota is going to do well," he says.

Courtesy: SPAN Magazine