Briefing: Consul General for India in New York visits Columbus to discuss Make In India initiative
India has become a desirable investment for local companies.
Central Ohio companies are taking a closer look at exporting, expanding and investing in India. The country is projected to be the world's third-largest economy by 2030. Dr. Manoj Mohapatra, acting consul general for India inNew York, came to Columbus in March to discuss Indian opportunities with local business leaders.
Mohapatra's visit to Columbus was timely. The Indian government passed its annual budget the night before his presentation at the "Make In India" lunch seminar, hosted by Kegler Brown Hill + Ritter's global business practice. Amul India catered a buffetlunch for 60 guests.
"Make In India is a priority for them," says Mohapatra, referring to the continued funding the manufacturing and economic development initiative will receive from the government of Indian Prime Minister Narendra Modi.
According to Mohapatra, overseas funds "accounted for more than 50 percent of all investment activity in India in the past year."
His co-panelists shared their experience manufacturing and sourcing from India under the Make In India initiative. The panel was moderated by Kurtis Roush, executive director of the Office of Global Business at the Ohio State University and included Shyam Rajadhyaksha, vice president of DLZ Corporation; Randy Rhodes, sales and marketing manager for MES, Inc.; Joel Mitchell, CPA and Plante Moran partner; and Kegler's Asia-Pacific Team Leader, Vinita Bahri-Mehra, organizer of the discussion.
"Opportunities are wide and vast in India, especially under the new government," says Bahri-Mehra. Ten years ago, Bahri-Mehra's central Ohio clients had little interest in setting up operations in India. It's a whole different story in 2016, she says.
"The question we get now from our customers is 'How can we invest in India? Where can we invest? We want to be in that market!'"