New US biz centre to boost ties with Indian SMEs

ABC's activities will include dissemination of catalogues of US and Indian products to potential buyers, and staging of workshops and seminars on topics ranging from trade and finance to IPR

Some 450 SMEs in Mohali, Punjab, adjoining Chandigarh, are upbeat over the setting up of the American Business Corner (ABC) in the Mohali Industrial Area by the US government's department of commerce. This is northern India's first such facility, and is expected to help create business links between US and Indian SMEs.

ABC's activities will include dissemination of catalogues of US and Indian products to potential buyers, and holding of workshops and seminars on topics ranging from trade and finance to IPR (Intellectual Property Rights). It will also act as a clearing house that will connect the 450 members of the Mohali Industries Association (MIA) with US companies.

Anurag Aggarwal, president of MIA, told Business Standard, "In order to set up ABC, Mohali Industries Association signed a MoU with the US commerce department. This is for the first time that American SMEs are reaching out to Indian SMEs and this can prove to be an historic step towards enhancing trade relations between the two countries."

He added, "ABC is a novel concept as, to date, SMEs of the two countries did not have an opportunity to connect with each other. The setting up of ABC will be beneficial for all members who are looking for an opportunity to do business with the US. It will not only boost Indian exports to the US but will also help Indian SMEs to reach out to the best technology."

Mohali, a planned satellite town of Chandigarh, has a large concentration of SMEs which manufacture a wide range of products including railway components, auto parts, tractor parts, sanitary fittings, furniture, PVC pipes, chemicals, corrugated boxes, rubber and silicon material, precision parts, industrial gases, engineering items and electronic goods. The SMEs also manufacture TV sets, transformers, electronic sockets, mini computers, electronic telecom equipment, dish antennas and computer peripherals.

In a press statement, Nancy J Powell, US Ambassador to India, said the ABC in Mohali will act as a clearing house to connect its 450 member firms with US companies interested in doing business with them. Karan Avtar Singh, Punjab's principal secretary, industries and commerce, assured American and Indian SMEs that the Punjab government would help them to connect, so that trade between the two countries increases.