Madurai, March 11
AN innovative entrepreneurial mindset with focus on quality and cost can fetch for Tamil Nadu a most beneficial bilateral trade experience with the US.
It should draw upon its strength and think big while doing the business with due homework and marketing as an investment strategy in the globalised economic set up, supported by a facilitating government. Finance for investment as seed capital is available with the American mutual funds and venture capitalists.
What is required for the promotion of the bilateral trade is to understand that openings as opportunities are there for taking through partnership mode, with India offering veritable marketing opportunities for the US too, felt panelists while discussing `The positioning of Tamil Nadu as the leading partner for trade and investments with USA' at the one-day seminar on `Business with USA- Madurai Meet 2005', organised by the Indo-American Chamber of Commerce (IACC), here on Friday.
The panelists, comprising the Chairman of the Ramco Group, Mr P.R. Ramasubramaneya Rajha, the Chairman of Gem Granites, Mr R. Veeramani, the Executive Director of TVS Sons Ltd, Mr R. Dinesh, and the Director of the Software Technology Park of India, Ms R. Rajalakshmi, said that with the gaining political access of the Indian diaspora through lobbying and the goodwill that the country has gained in terms of its manpower capabilities, entrepreneurs in the State, especially from south Tamil Nadu should engage in building a brand bandwidth in its relationship to gain visibility. The US hunger for outsourcing is there to stay. This must be utilised to the best advantage.
An early attempt by the Government to build the infrastructure for the purpose is necessary. The British period acts and laws should undergo change to suit the times. The IACC through a study on the average American consumer should endeavour to fill the gaps in the understanding.
They said that the State, especially Madurai and the southern region, could build on its strength in textiles, garments, information technology, IT enabled services, the potential for a combination of health and tourism, engineering goods, automobile parts etc. A long-term plan will have to be evolved to maintain a sustained effort in the direction. Earlier, Mr Ravi Candadai, Consul, Public Affairs, American Consulate General, Chennai, in his inaugural address, said that world-renowned Meenakshi temple could be built as a brand to gain visibility. In the global economic set-up, the mobility of the intelligentsia should not be viewed as `brain drain' but `brain rain' as the movement lends to mutual growth. India can benefit immensely too from the American technology in various fields, especially in education as it would strengthen the bonds between the two countries to mutual benefit. In the technical sessions that followed, presentations and discussions on `Engineering and automotive goods exports to USA', Textiles and garments exports to USA', and `Sourcing from USA', were held. The Deputy Chief NIV Section and Vice Consul, American Consulate General, Chennai, MsCarol A Cox, conducted a guidance session on US Business Visa.