US President Barak Obama’s recent visit to India generated no little amount of excitement with gossip flying about what kinds of Indian dishes the Obamas preferred and what gifts Michelle Obama was purchasing. However, more important than the cross-cultural experiences were the economic policies crafted during the meetings as leaders from these two powerful countries explored ways to work together to jointly build our two economies. According to Timothy Geithner, Secretary of the US Department of the Treasury, from 2004-2009, India’s exports to the US rose 40% while the US exports to India grew by 170%. After a dip in 2009, bilateral trade has already grown by 30% in the first half of 2010, and with strong support from both sides of the globe, it appears that US-Indian trade will only continue to increase in the months and years to come.
With increase in trade comes an increase in opportunity for the savvy entrepreneur or business professional. Increasingly medium and even small companies will have the infrastructural capacity to turn their Indian business into a global business if they have the initiative, perseverance, and tolerance for risk required to enter the global market. For the budding business professional or MBA student entering the workforce, there is great potential to take your idea, concept, product, or service to the global stage. Our leaders are working to establish a broad platform of business opportunity and at the moment there is plenty of room.
By: Jon Freeman