FedEx plans trade mission to India
FedEx Corp. is collaborating with the Commerce Department’s U.S. Commercial Service on a trade mission to India in November 2008 for U.S.-based businesses interested in expanding into the Indian marketplace. FedEx is the first private-sector company to lead a trade mission to India in conjunction with the Commercial Service.
With visits scheduled to New Delhi, Hyderabad and Mumbai from Nov. 9-14, 2008, the trade mission will enable U.S. businesses to better understand trade opportunities across key economic hubs in the country. In addition, it will help Indian companies looking to pursue new buying opportunities with American businesses.
The companies participating in the trade mission represent small and medium-sized businesses and sectors in manufacturing, transportation equipment, engineering, business services, consulting, architecture, information technologies, pharmaceutical, consumer goods, and more.
As part of the trade mission, participants will meet with potential Indian business partners, agents, distributors and buyers to discuss opportunities through business appointments arranged by the U.S. embassy’s Commercial Service.
From 2003-2007, U.S.-India trade has increased by 130 percent, reaching more than USD 41 billion last year – and U.S. exports to India have more than doubled since 2005. Trade between the two countries is up 21 percent through the first half of 2008 compared to the same time period last year. American companies see excellent opportunities in part due to India’s average annual growth rate of more than seven percent, its fast-growing middle class of nearly 400 million consumers with growing purchasing power, and the country’s favorable impression of U.S. products and services.
Since 2004, FedEx and the U.S. Commercial Service have operated a joint trade promotion initiative to help simplify the complexity of international trade, particularly for small and medium-size businesses looking to source and sell in the global marketplace. In May 2007, FedEx and the U.S. Commercial Service renewed their commitment with a new 5-year agreement to continue their efforts to boost exports from U.S. businesses. To date, more than 13,000 clients have been exposed to the business of exporting.
