Opportunities for India-US trade is very bright, says Chairman and CEO of Indian American International Chamber of Commerce

Recipient of the Ellis Island Medal of Honor in 2015, KV Kumar has served several US Presidents, from President Ronald Reagan to Donald Trump.

Actively involved in promoting small businesses and entrepreneurs, he has served on President Trump's  Asian American and Pacific Islander Advisory Council.

“The Bengal Chamber has always been at the forefront of facilitating platforms for business links irrespective of geographical boundaries,"  said Subhodip Ghosh, Director General, Bengal Chamber, "and Mr. Kumar, being an authority on government relations, alliance building, crisis management and his long association with the World Bank, would be integral for forging business developments between America and India."

Kumar’s visit  saw IAICC and The Bengal Chamber brainstorm regarding collaborations in facilitating B2B (business to business) connects between American businesses and their counterparts from eastern and north eastern India.

"We are at cusp of revolution in area of logistics and IAICC‘s main focus area is MSMES (Micro- Small and Medium Enterprises) and we want to explore how IAICC in association with the Bengal Chamber can connect with newer markets in the South East Asian region," said Ghosh.

The IAICC works with entrepreneurs, professionals, businesses and governments to develop entrepreneurship and commerce through mentor-protégé programs, training, seminars and networking opportunities.

"We will be signing a MoU to create a joint council to offer joint services to stake holders in form of B2B links. Whenever there is a delegation that comes from the US, Kolkata would be a stopover," said Ghosh.

Highlighting  IAICC's plans, Kumar said that the organisation is seeking to open offices in Singapore, Kuala Lumpur, Manila, Dubai, Hong Kong and 30 chapters in the US.

"We are seeking creative and innovative ways of doing business," said Kumar, "there are about 600,000 Indian American businesses in the U.S. West Bengal being strategically placed is an ideal place to act as a gateway to accessing markets in the ASEAN countries."

At present IAICC is working in four states in India where each state has made a Chamber of Commerce a platform to conduct business links, Kumar said.

"We are putting up Innovative Challenge, a new platform for doing business, which is part virtual and part real, where businesses are initiated through virtual media between traders, buyers, sellers establishing B2B connects that later involves personal meet ups and visits to check products or services," he said.

There would be no cost to both the chambers, explained Kumar.

An interested trader could come to chamber and explore what are the options that interest them.

This entire project is funded by outside source to the tune of 50-100 million USD, said Kumar.

"The Bengal Chamber is our chosen collaborator for West Bengal," said Kumar, "this platform is in a start-up process and should be ready in 24 months."

Kumar said that the US-based organisation plans to invite Amit Mitra, West Bengal State Minister of Finance and IT , and Electronics, Industry, Commerce, Enterprise and E governance and MSME to the US in August this year to attend a business forum where an innovative theme would be introduced.

"Also, I would like to see India work on its trade lobby as there is not any lobbying unlike other countries. With a huge youth population, the possibilities and opportunities for India is very bright. The next two decade belongs to India," said Kumar.