S Indian companies looking to invest in the United States have an ally at their side: SelectUSA.
Courtesy @SelectUSA/Twitter
electUSA is perhaps best known for its annual summit, which pairs businesses with economic development organizations representing potential municipal and state partners. The SelectUSA agency provides one-on-one assistance to companies to help them make informed decisions. Its services include explaining U.S. regulations and business rules, providing data and research reports, helping companies choose a geographic region, and facilitating networking with potential partners and resources. There is no minimum business size to receive assistance. “Small-tomedium businesses are really kind of our sweet spot,” U.S. Trade Commissioner Brenda VanHorn says. Companies from all sectors can work with SelectUSA. Pune-based Bharat Forge is building a large plant in North Carolina to supply the automotive and transportation industries. Mumbai’s Cipla Pharmaceuticals worked with SelectUSA to build a factory in Massachusetts to manufacture inhalers using innovative technology that doesn’t currently exist outside of India. SelectUSA partners with Indian companies interested in investing in the United States in a variety of sectors, including manufacturing and technology. Specialty programs include a new six-month Select Global Women in Tech Mentorship Network for female tech founders, entrepreneurs and executives. “Our mandate from Congress is to increase
jobs in the U.S.,” VanHorn says. “We do that through helping businesses in America export to overseas markets. And we do that by helping businesses in other countries invest in the U.S.” While this year’s summit was virtual, it was still a successful experience for its participants. “Nine Indian companies spoke at the 2021 summit. Three of the companies had the opportunity to speak directly in one-on-one plenary sessions with state governors about doing business in their states,” VanHorn says. India routinely sends one of the largest delegations to the SelectUSA conference each year. The agency has its own staff in India, which is a testament to the importance of the special relationship between India and the United States, says SelectUSA Regional Investment Specialist Shamli Menon. SelectUSA Tech, a Shark Tankstyle start-up pitch program at the summit, was so successful in its first year that they ran out of room and had to turn people away at the door. Two Indian companies were chosen to compete in this year’s tech challenge out of all of the companies worldwide that applied. But SelectUSA’s services are available outside the summit as well. “The agency is there yearround to assist businesses,” says VanHorn. She also notes that SelectUSA works with and can put businesses in contact with a large network of governmental agencies. “There are so many people who can help. It can be kind of overwhelming for a small business here in India to know who to go to first. We’re the people they should go Left: U.S. Secretary of Labor Martin Walsh (from right), U.S. Secretary of Commerce Gina M. Raimondo, and President and CEO of Siemens Corporation Barbara Humpton at the virtual SelectUSA Summit in June 2021. Right: Executive Director of SelectUSA Dina Beaumont (right) met with Bharat Forge in Sanford, North Carolina, to congratulate them on their aluminum forging mill. Bharat Forge is a multinational company headquartered in Pune.
Investing in By CANDICE YACONO
14 SEPTEMBER/OCTOBER 2021
