Consul General of Atlanta Says India is a Largely Untapped Market

Nagesh Singh, consul general for India in Atlanta, said that despite being the world’s fifth largest economy, India remains a largely untapped market which has plenty of opportunities for partnerships with domestic companies. He added that India hopes to increase bilateral trade with the United States from $120 billion to $500 billion in 2025.

Nagesh Singh, India's Consul General of Atlanta

Nagesh Singh, India’s Consul General of Atlanta

GSA Business Reports says that Singh outlined many areas of business opportunities in India:

  • Defense – India is the second-largest importer of arms with an annual expenditure of $15 billion in 2016.
  • Automotive – India is making strides to become the third-largest automotive market in the world by 2022. The country has a $300 billion market and produces only 20% of vehicles sold there.
  • Infrastructure – India plans to spend $1 trillion by 2030 to upgrade roads, bridges and utilities.
  • The country also represents a $600 billion retail market and a $120 billion aerospace market.

Singh noted that businesses in India plan to invest more in the United States. “India is becoming a very important part of providing direct investment to this country,” he said, adding that a recent survey of Indian businesses showed 90% of them want to invest more in the United States.

 

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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