News / Asia

US Trade Mission Visits India

A trade mission from the United States is in India to explore the potential of a market where a buoyant economy and a growing middle class have American companies looking to take advantage of a huge business opportunity.  

Representatives from 15 U.S. companies visited the financial hub, Mumbai and the southern IT hub, Hyderabad before coming to New Delhi to scout for franchise partners for their businesses.

They include popular food chains like Denny’s, Wendy’s, Pollo Tropical and Johnny Rockets as well as electronics retailer RadioShack and Wonderworks amusement parks.   

The companies are here as part of the first-ever franchising trade mission from the U.S. to India.

The U.S. Assistant Secretary of Commerce for Manufacturing and Services, Nicole Y. Lamb-Hale, who is leading the mission, says India is ready for a boom in franchising . The franchise market in India is estimated at $3.3 billion and growing at about 30 percent annually.  

Lamb-Hale says besides providing new opportunities for American businesses, the entry of new U.S. companies will also benefit local businessmen.  

"The thing that is really nice about it is that it is great for Indian entrepreneurs, because they have a proven business concept, they can benefit from technology transfer and best practices, and have their own businesses and adapt it to the Indian market, so it is really a nice win-win situation to create jobs here and create jobs in the U.S.," she said.

The growing economy has given India's middle class more disposable income to spend on services, entertainment and food. To tap the potential of this growing market in a country of 1.2 billion people, some companies, like Denny’s Corporation, plan to begin operations as early as next year.

Lamb-Hale is also talking to Indian officials about easing foreign investment restrictions.  At the moment India caps foreign investment in single brand retail at 51 percent, and bars foreign ownership in multi-brand retail. Washington has also been urging New Delhi to relax investment restrictions in the insurance sector.      

Lamb-Hale says such restrictions can be restrictive for some businesses, but is optimistic about some changes.   

"Each company is going to have its own perspective, but certainly investment caps like that may make the market for some businesses less attractive, and I think the government of India has expressed a willingness to listen to that and I think in some areas some easing may come about," she said.

American officials say relaxing foreign investment restrictions will give fresh momentum to bilateral trade, which is about $48 billion. The trade mission in India is part of a U.S. government initiative to double exports in five years and create jobs in the U.S.

You May Like

At International AIDS Conference One Goal, Many Paths

The 12,000 delegates attending 20th International AIDS Conference in Melbourne have vastly different visions about how to eradicate disease More

Disasters May Doom Malaysia’s Flag Carrier

Even before loss of two jets loaded with passengers on international flights, company had been operating in red for three years, accumulating deficit of $1.3 billion More

Afghan Presidential Vote Audit Continues Despite Glitches

Process has been marred by walkouts by representatives of two competing candidates, Abdullah Abdullah and Ashraf Ghani More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Nature of Space Exploration Enters New Agei
X
Elizabeth Lee
July 20, 2014 2:36 AM
Forty-five years ago this month, the first humans walked on the moon. It was during an era of the space race between the United States and the Soviet Union. World politics have changed since then and -- as Elizabeth Lee reports -- so has the nature of space exploration.
Video

Video Nature of Space Exploration Enters New Age

Forty-five years ago this month, the first humans walked on the moon. It was during an era of the space race between the United States and the Soviet Union. World politics have changed since then and -- as Elizabeth Lee reports -- so has the nature of space exploration.
Video

Video Chicago’s Argonne Lab Developing Battery of the Future

In 2012, the U.S. Department of Energy’s Office of Science awarded a $120 million grant to a new technology center focused on battery development - headquartered at Argonne National Laboratory in suburban Chicago, Illinois. As VOA’s Kane Farabaugh reports, there scientists are making the next technological breakthroughs in energy storage.
Video

Video In NW Pakistan, Army Offensive Causes Massive Number of Displaced

Pakistan’s army offensive in North Waziristan has resulted in the large-scale displacement of the local population. VOA's Ayaz Gul reports from northwest Pakistan where authorities say around 80 percent of the estimated 1 million internally displaced persons [IDPs] have settled in Bannu district, while much of the remaining 20 percent are scattered in nearby cities.
Video

Video Kurdish Peshmerga Force Secures Kirkuk, Its Oil

The Kurdistan regional government has sent its Peshmerga troops into the adjacent province of Kirkuk to drive out insurgents, and to secure the area's rich oil fields. By doing this, the regional government has added a fourth province to the three it officially controls. The oil also provides revenue that could make an independent Kurdistan economically strong. VOA’s Jeffrey Young went out with the Peshmerga and filed this report.
Video

Video Malaysia Reeling: Second Air Disaster in Four Months

Malaysia is reeling from the second air disaster in four months involving the country’s flag carrier. Flight 340 vanished in March and despite an extensive search, no debris has been found. And on Thursday, Flight 17, likely hit by a surface-to-air missile, came apart over eastern Ukraine. The two incidents together have left more than 500 people dead. VOA Correspondent Steve Herman reports from Kuala Lumpur.
Video

Video Diplomatic Crisis Grows Over MH17 Plane Crash

The Malaysia Airlines crash in eastern Ukraine is drawing reaction from leaders around the world. With suspicions growing that a surface-to-air missile shot down the aircraft, there are increasing tensions in the international community over who is to blame. Henry Ridgwell reports for VOA from London.
Video

Video Undocumented Immigrants Face Perilous Journey to US, No Guarantees

Every day, hundreds of undocumented immigrants from Central America attempt the arduous journey through Mexico and turn themselves over to U.S. border patrol -- with the hope that they will not be turned away. But the dangers they face along the way are many, and as Ramon Taylor reports from the Rio Grande Valley in Texas, their fate rests on more than just the reception they get at the US border.
Video

Video Scientists Create Blackest Material Ever

Of all the black things in the universe only the infamous "black holes" are so black that not even a tiny amount of light can bounce back. But scientists have managed to create material almost as black, and it has enormous potential use. VOA’s George Putic has more.
Video

Video Fog Collector Transforming Maasai Water Harvesting in Kenya

The Maasai people of Kenya are known for their cattle-herding, nomadic lifestyle. But it's an existence that depends on access to adequate water for their herds and flocks. Lenny Ruvaga reports for VOA, on a "fog collector."

AppleAndroid