Chamber explores business opportunities in India

Sep 03, 2015
Business opportunities in India are expected to develop for local companies following a meeting with two executives from the Youngstown Warren Regional Chamber.
CLEVELAND – Business opportunities in India are expected to develop for local companies following a meeting with two executives from the Youngstown Warren Regional Chamber.

Regional Chamber President and CEO Tom Humphries and Vice President of Economic Development, North America Sarah Boyarko joined a group of Northeast Ohio business leaders for discussions with India Consul General Dnyaneshwar M. Mulay and Deputy Consul General Manoj Kumar Mohapatra. The Indian officials provided updates on the latest opportunities for U.S. companies interested in investing or doing business with India.

“The new prime minister of India is pro-business, so the opportunity is upon us to attract companies willing to make substantial investments in the Valley and bring high-paying jobs into our region,” Humphries said.

Prime Minister Narendra Modi won the election in 2014. The U.S. Department of Commerce now ranks India as the fourth-fastest growing source of foreign direct investment in the U.S.

India’s largest company, Tata, operates Thomas Steel in Warren, and subsidiary Tata Advanced Systems builds parts in India for the C130 transport planes, which are used by the Youngstown Air Reserve Station. There are efforts in Washington manufacture C130 replacement parts in the U.S.

“I’m excited at the prospects for our local businesses to increase exports to India,” Boyarko said. “This aligns nicely with our regional effort surrounding the OH-PA Stateline Export Initiative.”

The OH-PA Stateline Export Initiative was launched earlier this year. The Regional Chamber and the International Trade Assistance Center at Youngstown State University joined forces with eight other economic development agencies in 10 northeast Ohio and western Pennsylvania counties to create a worldwide trade strategy.

Mulay and Mohapatra are stationed at the Consulate General of India in New York City. They serve several eastern and midwestern states including Ohio.