Creating job opportunities for the next gen is top priority for the Government of Maharashtra: Subhash Desai
Photo Caption : Mr Subhash Desai, Hon’ble Minister – Industries, Government of Maharashtra, Mr Brian Calley, Hon’ble Lieutenant Governor of Michigan addressing at CII – Maharashtra-Michigan Global Business Summit in Finacial Capital of India in Mumbai
Maharashtra-Michigan is now the auto hub of India- Industry Minister
CII – Maharashtra-Michigan Global Business Summit
Mr Subhash Desai, Hon’ble Minister – Industries, Government of Maharashtra in his address at the CII – Maharashtra-Michigan Global Business Summit stated that creating job opportunities for the younger generation is on top priority for the Government of Maharashtra. He invited American companies to come and do business in Maharashtra stating that Maharashtra-Michigan is the new Auto Hub of India.
The Hon’ble Minister was addressing the Maharashtra-Michigan Global Business Summit organized by Confederation of Indian Industry (CII) along with the Michigan Economic Development Corporation (MEDC) and Maharashtra Industrial Development Corporation (MIDC) with support from the Automotive Component Manufacturers Association (ACMA) in Mumbai.
Mr Brian Calley, Hon’ble Lieutenant Governor of Michigan in his special address mentioned, “Today, we are here to invest in building strong India-Michigan business relations”. He further elaborated that “Through events like this, we continue to seek ways to build bridges and new connections to increase commerce between our two countries and help our respective businesses maintain a strong position in the global market place.
Mr Ninad Karpe, Managing Director & CEO, Aptech Ltd while addressing the gathering mentioned that “Prime Minister Modi’s clarion call of Make in India is aimed at improving the contribution of the Manufacturing Sector to GDP to 25% from the current 15-16%. He further stated that a positive result of this Government’s drive and reform is that India is increasingly becoming the center of attention of the world. At a time when Foreign direct investments have gone down by 16% globally, FDI in India has gone up ~45%. As a result India has recently become number 1 w.r.t foreign direct investment in 2015 ahead of China and USA. India received the 2nd most no. of projects in Asia after China “.
The one-day Global Business Summit aimed at supporting increased Indian foreign direct investment into Michigan’s automotive and manufacturing industries while creating opportunities for Michigan companies to establish new business connections into Maharashtra. The Summit included high-level participation by government and industry leaders with discussions focused around factors driving global investment and technology trends with specific attention on North American and Indian market entry or expansion.
Experts from Michigan in finance, legal, real estate, taxation, and supply chain helped Indian companies understand the requirements and processes to establish a Michigan presence or relationship with a Michigan business. Industry leaders described opportunities for Indian firms to grow in the North American market utilizing the assets of the Michigan automotive and manufacturing economy as well as how Michigan companies can expand in India through strategic partnerships with Indian firms. Indian firms and government highlighted opportunities for Michigan companies to expand into India.
The India/Michigan Global Business Summit builds upon increasing business activity between companies in Michigan and India as Indian firms continue to look for growth in the North American market while also requiring access to new technologies for a maturing domestic Indian manufacturing industry. The State Governments of Michigan and Maharashtra have agreed to dedicate resources in support of furthering these business connections.
Indian and Michigan firms participating in the Summit will range in size from annual sales of less than US$50M to more than $1B. Some participants will be global market leaders and some may currently focus strictly on the Indian or US markets, respectively. Through existing relationships with the MEDC, participating Indian and Michigan firms have expressed varied interest in the types of relationships they are interested in pursuing, including: contract opportunities, joint ventures/technology tie-ups, R&D partnerships, and co-bidding relationships.
Many other US states and global cities are actively working to enhance trade and investment activities with Indian industry leaders. Michigan will set itself apart by drawing on the unique opportunity to use our successful Pure Michigan Business Connect (PMBC) matchmaking platform to accurately connect Michigan company competencies with Indian company needs whether they are required by Indian firms to strengthen their domestic market positioning or to support their supply localization as they expand operations into the US through Michigan. To date, PMBC has helped orchestrate over US$2 billion in global contracts for Michigan companies.
The Summit was attended by senior industry members from manufacturing and automobile sector.