'It is easy for Indian companies to do business in US'

Mumbai, May 24 (UNI) It is simpler, faster, easier, less regulated and cheaper for Indian companies to do business in the USA as compared to other countries, said Mr Harvey Cohen, Dinsmore&Shohl, USA, while delivering his address at a joint seminar organised by the Confederation of Indian Industry (CII) and Kochhar&Co, here today.

Highlighting the opportunities for Indian companies to enter the US markets at the seminar whose theme was ''Going Global--Challenges&Opportunities for India'', Mr Cohen said that private ownership of real estate as well as buying and selling of companies in manufacturing and service sectors and private equity investment in companies in the US is allowed with no government regulation.

''This is a proven entry strategy,'' he said, adding that ''buying assets of a company in bankruptcy is also considered a proven entry strategy for Indian investors.

Mr Bruno Blanpain, Marx Van Ranst Vermeersch&Partners, Brussels, European Union (EU), emphasised that the EU is a large market and that the spending kids income (SKI) generation ''which doesn't save anymore but has a high-disposable income, was a potential consumer market, which Indian companies could tap''.

In response to a query from the audience, Mr Pratik Malhotra, Director, Invest in France Agency, New Delhi, said that one of the main reasons for Indian investment in France was acquisition.

He pointed out that companies set up by the ''baby boomer'' generation was looking to sell out and Indian companies have been primarily targeting those from the IT, pharma and auto components sectors.

''There is a lot of interest and several Indian IT companies are also looking for JVs,'' he said.

Setting the agenda for the day, Mr Rohit Kochhar, National Chairman and Managing Partner, Kochhar&Co., said that the 21st century has been special for Indian companies. ''India has shrugged off the aura of being a third-world country and today, India is a brand to reckon with in the international arena,'' he said.

He also underlined the challenges in dealing with a multi-ethnic, multi-racial and multi-cultural workforce as well as consumers and the need for greater effort and innovation.

Ms Helen Deas, First Secretary (Trade and Investment) and Deputy Head of Mission, British Deputy High Commission, Mumbai, who also addressed the seminar, said that the relationships that every country is establishing with India ''are the ones that will make a difference in this century''.

She pointed out that while India had good enginering skills, it needed to improve in terms of presentation and packaging for international markets. ''Issues like transparency and bureaucracy also need to be addressed,'' she pointed out.

Earlier, while delivering the welcome address, Dr Swati Piramal, Chairperson, Maharashtra Council-CII&Director, Nicholas Piramal India Ltd., said that there has been a phenomenal change in the functioning of Indian companies with an increasing trend of plunging into the global environment. ''The real challenge is to make your company absorb technology and uses it to go global,'' she averred.

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