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Commercial Service can assist in identifying prospective

Indian partners for U.S. businesses. Our trade experts can also provide background checks on speci? c foreign compa- nies to help determine their suitability as a potential busi- ness partner.

What are some of the challenges that U.S. marine tech ? rms face in doing business in

India?

The Government of India’s 2020 procurement regulations limit global tenders to purchases over roughly $26.6 mil- lion (unless speci? cally authorized); the regulations also in- clude Indian value-add content preferences. Similarly, state government organizations have put in place localization requirements for companies competing for tenders. Given

India’s movement toward self-reliance, we expect that local content requirements will become increasingly stringent at both the central and state government levels.

Commercial Specialist

Sham Shamsudeen.

Can you give any advice or tips to U.S.

Photo courtesy U.S. Commercial Service businesses looking to enter India’s market?

Strategic planning, due diligence, consistent follow-up, patience, and commitment are prerequisites for doing busi- ness successfully in India. The Indian market necessitates multiple marketing efforts that address differing regional opportunities, standards, languages, cultural differences, and levels of economic development. Penetrating India’s markets requires careful analysis of consumer preferences, existing sales channels, and changes in distribution and marketing practices. India is a face-to-face society, and in- person meetings are typically required before formalization of work partnerships or agreements. While the pandemic has led Indian companies to work more frequently with global partners in virtual environments, it remains to be seen whether this is a permanent shift in business practices.

Why is it an advantage to have your delega- tion at the event?

Discover Global Markets: The Blue Economy, A New Age in Ocean Technology, Sustainability and Logistics is an ide- al platform for businesses to collaborate. The Indian delega- tion will have the opportunity to meet with U.S. companies face-to-face through business matchmaking services and locate U.S. products and services. The delegates will also get the opportunity to dive deeper and learn about the latest industry trends, and possibly pursue site visits while in the

United States.

www.trade.gov/cs www.trade.gov/india www.marinelink.com 23

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