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Investing in India: new opportunities bring business to the Detroit Region.

The Detroit Regional Economic Partnership and Oakland County led a third annual mission to India as part of their aggressive efforts to create new business for Southeast Michigan from India's Fast-growing market. The ten-person delegation called on companies in India January 19 -30,2008.

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"India is on the frontier of the growing global economy," said Detroit Regional Economic Partnership Executive Director John Carroll. "Building on the successes of our previous missions to India, the Detroit Region is capitalizing on our established relationships in this nation."

The group traveling to India included representatives from the Detroit Regional Economic Partnership, Oakland County, Michigan Economic Development Corporation, St. John Health, Butzel Long and Global Services Resources, L.L.C.

"As a leader of Southest Michigan's international business arena, Oakland County realizes the opportunity for doing business with this important part of the world," said Oakland County Executive Brooks Patterson. "That is why we continue to participate on this critical business mission each year."

Results

The Partnership's first two missions to India, in 2006 and 2007, were seen as very productive activities. As a result, five companies from India have established presence in the Detroit Region, including Godrej, an Indian company that recently invested $500,000 to purchase a software company in Oakland County.

Two Detroit companies have established a presence in India with a local partner. The Partnership has met representatives from more than 100 additional companies, and staff and other representatives now meet with many of these companies on a regular basis, both in India and in the U.S.

RELATED ARTICLE: India Incubator

The Partnership is providing a new way for entrepreneurs to enter the North American market through the Detroit Region with its new India Incubator program. Indian companies that are interested in doing business in North America can take advantage of a unique location in the Detroit Region--Tech Town. The developing community provides a complete business infrastructure, networking support and other resources needed by emerging businesses.

During the Partnership's most recent mission to India, this opportunity was presented to those in the life sciences, alternative energy, IT and engineering industries. Requirements include a business plan and the passion to develop find operate a business. In exchange, prospective entrepreneurs are offered custom designed and affordable work space, shared secretarial services and office equipment Internet 2 capability, access to a major university GRID, including computing lab and libraries, financing assistance, affordable legal and accounting assistance and an Indian project manager for support.

This is just one of the tools the Partnership is using to bring foreign investment and new business to the Detroit Region,
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Publication:Detroiter
Date:Mar 1, 2008
Words:435
Previous Article:Emerging global leader.
Next Article:Building business in our region: the partnership hosts international trade commissioners.


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