Some of the visitors to the Madras Chamber of Commerce and Industry have been the foreign delegations coming to Chennai.
“What are they looking for?” I asked the Chamber president, T. Shivaraman. They are looking not just for Indian joint venture (JV) partners for the foreign companies who come to India, he began. More and more, they are actually looking for Indian companies to invest overseas, informed Shivaraman.“And the target that they are having is not the Tatas and the Birlas and the Reliances, who are anyway going to invest, but the midsized Indian companies who they want to attract to invest overseas. Starting from IT, which is obvious, and going on to manufacturing, even textiles, countries including the US are looking for Indian entrepreneurs to go overseas there and invest with Indian money. That is something we have not seen before, and are seeing in the last about two years.”
An opportunity, therefore, not to be missed by entrepreneurs is to interact with the foreign delegations to know the requirements of the other geographies.