IAICC to Work with WTC Mumbai and AIAI to Foster Indo-US SME Ties

"In the next five years, the India-US relationship is going to witness a historic transformation, never seen before in the last 300 years. These two large democracies are natural economic partners and they need to work together to promote world peace. The Indian American International Chamber of Commerce (IAICC) is proud to partner with World Trade Center (WTC) Mumbai and All India Association of Industries (AIAI) to promote trade, investment and technology cooperation between both these countries. IAICC is in the process of establishing federal, regional, state and local government connections to obtain contracts for the membership,” said Mr. Malav Dani, Chairman of IAICC’s International Chapter.

Mr. Dani speaking at an interactive meeting on ‘Doing Business with the United States of America,” said the partner organizations are planning to work together in enhancing bilateral relations in sectors such as technology, energy, defense, education, agriculture, medicine, environment and entrepreneurship. The event was organized by WTC Mumbai and AIAI.

Speaking on this occasion, Mr. KV Kumar, IAICC President & CEO, remarked, "Our Chamber is proud to partner with AIAI and WTC, Mumbai as we observe 30 th Anniversary of IAICC this month. We hope to strengthen our ties through mutual exchange of delegations and by promoting business cooperation among our Small and Medium Enterprise (SME) members."

In his welcome address, Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai stated, “USA has become the second largest source of investment in India in 2020-21 by replacing Mauritius. USA is one of the largest destinations of India’s IT services exports, ever since India became a dominant player in Information Technology in 2000. IAICC can collaborate with WTC Mumbai, which is connected to the global network of 330 WTCs. Also, AIAI will work with IAICC in promoting partnership among SMEs in both these countries. In fact, AIAI has signed more than 280 MoUs with various chambers of commerce and government agencies, which will act as a catalyst to promote India-US trade."

Speaking about bilateral relations, Dr. Kalantri said, "USA is the second largest trade partner of India, with mutual trade of USD 121 billion, including services trade. India needs technology and financial assistance from USA to accelerate its annual pace of economic growth to more than 10 per cent. AIAI and WTC will work jointly with IAICC at its 30 th Anniversary Celebration to promote this mutual relationship."

During the event, IAICC signed MoUs with WTC, Mumbai, and AIAI. Ms. Sangeeta Jain, Senior Director, AIAI signed MoU on behalf of the association.

The event was attended by members of trade & industry, academia, financial institutions and others.