By K.B. NAIR

IRWINDALE, CA - Representatives from Government agencies and corporations, business leaders and entrepreneurs participated in the second annual day long 2009 India Trade Conference held at Southern California Edison’s Customer Technology Application Center June 26. The event provided insights on business opportunities in India and useful tips on how to be successful in ventures in the Indian subcontinent and the pitfalls to avoid in a market which functions so radically different from the module in the United States. The event was a collaborative effort of Southern California Edison, the Port of Los Angeles and Quanta Consulting Inc.

In her inaugural address to the almost 150 participants in the event Banashri Bose Harrison, Minister (Commerce) from the Embassy of India, Washington, said the climate for business to grow between India and the US is perfect and with proper planning and execution the partnership is a Win Win One. She pointed out that since the lifting of controls in India in 1991 there has been impressive economic developments between the two countries and it keeps accelerating every year. She said the two countries are natural partners because they share several points of common reference. They speak the same language which facilitates easy communication, have complementary synergies in technology and innovation which makes it a perfect fit for generation of new ideas and markets which can be developed inexpensively and effectively in India.

To those fearful of a drop in interest between the countries following the departure of India’s staunch supporter, President Bush, Harrison reassured them it is natural that after an election domestic issues take priority but once they settle, the bilateral cooperation would take off with the same intensity as before and take it to a new level. She added that India’s plans to expand its nuclear, solar, wind energy projects, its efforts to improvement of infrastructure, etc would create immense marketing and consultancy opportunities in the country. The only thing missing from the US in India she said was presence of   small and medium companies and she hoped the entrepreneurs present would take full advantage of the assistance available at the Embassy which would go all out to support any good plan.

In his keynote address, Ed Fuller, President and Managing Director of Marriot International told listeners any venture in India should be looked upon as a long term project and the fly in fly out principle will not work. Detailing many of the features which has spelled success for the group Fuller said it was important to understand the business model there and change its marketing format to fit to local needs, which could vary even regionally because of the huge diversity of the country. To win in the Indian environment he added building a relationship of trust with the people is key requiring knowledge of its history and cultural peculiarities, something which demands time and patience.

Fuller suggested companies should draw on the country’s people and set up training programs to educate employees who are quick learners and are also bright and smart negotiators. He cautioned  one must be prepared to put up with a lack of infrastructure, particularly in respect to airports which he repeated a few times need to be added and improved. Among the musts he listed was the hiring of a good accounting firm with knowledge of international financial procedures,  be fully conversant of the laws of the land and avoid  any  kind of litigation  which could result in unending shelving or even  abandoning of projects. On the US side, Fuller suggested, one should be conversant of the rules governing Foreign Corrupt practices before venturing into commencing expansion into foreign expansion..

Special speaker Brian McGowan, Deputy Secretary for Economic Development and Commerce in California spoke on Governor Schwarzenegger’s initiatives to revive the economy of the state, but little on the California-India connection.

Earlier Gene Rodrigues , Director, Energy Efficiency, Southern California Edison welcomed the gathering and dwelt on the importance of  conducting such seminars and encouraged the audience members  to network and take full advantage of the fund of information and knowledge from the experienced professionals present.

The first panel for the day set the tone for the remaining sessions with an “India Strategy Plenary Session” which was a broad view of the opportunities, trends and, incentives, markets, partnerships and cultural elements with India, moderated by R. Sampath Director Global Sourcing, Quanta Consulting Inc as moderator. Opening the session, Awinash Bawle, India Desk Officer, US Dept of Commerce agreed that there had been a dip in USA’s international trade in 2008 but expects a surge ahead fueled by liberalization and engagement. He explained the services the Department has to offer to those who wish to enter into the Indian market and the opportunities available particularly in the energy sector. Inder Sharma, CEO of American Induction Technologies expressed happiness about  a new level of receptivity from the Indian bureaucracy he experienced but warned research into product potential, currency fluctuation, tax and duty structures and accurate pricing are required for any venture to be successful .

Ken Silverman, CEO Interactive Teamworks spoke of the spectacular growth of the Indian Entertainment scene which has exploded from 1961 when Doordarshan was the single channel available in the whole of India to today when several hundred are available. He illustrated the significant cooperation between the countries in this field with studios like Fox, Disney etc collaborating in making Hindi movies and Indian companies like Reliance working with big name Hollywood personalities like Steven Spielberg and Tom Hanks etc. Professor Dr Gerard Tellis of USC Marshall School of Business provided a synopsis of his 4 year research on the drivers of success in India and China and the differences between the two. He said his research revealed while it is easy to enter the market, it is not to succeed, that being smaller can be an advantage and the closer the cultural distance, the more likely it is to do well.

The post lunch sessions dwelt on specific subjects such as the Trade and Logistics in which the experts on the panel discussed Sea and Air Cargo trends, logistics challenges and solutions in trade with India and how to locate potential customers. Another dealt with current and future global trends in alternative energy and specifics of alternative elements such as wind, solar and efficiency. The Financing and Risk Mitigation session covered Trade financing nuances, getting finance, mitigating risk in global business and available sources and where to start. The final session was a workshop on working effectively with India in which participants got practical tips and knowledge of key concepts such as communicating effectively and managing a virtual team from Dr Sangeeta Gupta, Partner of Gupta Consulting Group Inc.

Closing remarks were made be Daphne Ng, Community Partnerships Director. Southern California Edison and the vote of thanks was proposed by R.Sampath before the group moved on to the Courtyard Marriot for a VIP reception sponsored by Southern California Edison.