Michigan and India: Trend is Growing
Do you or an entrepreneur you know want to export goods or services to India? The numbers look pretty inviting. Trillions of dollars in GDP, a strong English-speaking, educated workforce, and trade laws favorable to U.S. companies. The trend is growing and the ways of entering the India marketplace are numerous. If you manufacture chemicals, plastics, iron and steel, fertilizer, machinery, crude oil or precious stones look to this rich and diverse marketplace.
With a nominal 2015 GDP of $2.09 trillion, India is the world’s fourth-largest economy. Its English-educated labor force accounts for the country’s growth as a major exporter of information technology and business outsourcing services, according to the CIA World Factbook. The country also has a large agricultural workforce, although most of India’s economic growth comes from services.
India’s largest exports are precious stones, machinery, vehicles, chemicals, iron and steel, petroleum products, cereals, apparel and pharmaceutical products. Its biggest export partners are the United States (15.2 percent), the United Arab Emirates (11.4 percent) and Hong Kong (4.6 percent).
India’s largest imports are chemicals, plastics, iron and steel, fertilizer, machinery, crude oil and precious stones. Its biggest import partners are China (15.4 percent), the United Arab Emirates (5.5 percent), Saudi Arabia (5.4 percent) and Switzerland (5.3 percent).
Some of the Michigan companies are:
Altair Engineering Inc.
Operations: Offices in Bangalore, Pune, Chennai, Delhi and Hyderabad
Products/Services: Proprietary software and services, including software for engineering simulation, high-performance computing and on-demand computing, industrial design and engineering consulting services.
Based: Auburn Hills
Operations: Office, technology and engineering centers in Bangalore, Bengaluru, Chennai and Rudrapur and manufacturing plants in Mysore and Manesar
Products: Airbags, seatbelts, steering wheels
Operations: One offshore services facility located in Gachibowli
Products/Services: Offshore delivery of full project turnkey solutions in the area of business intelligence, big data, data engineering and advanced analytics as well as managed services to help customers maintain their big data and analytics implementations
Dayco Products LLC
Operations: A manufacturing plant in Manesar
Products/Services: Torsional vibration dampers, accessory belt tensioners, timing belt tensioners and idlers for global automotive original equipment customers and technical support for customers at the regional level
Domino’s Pizza Inc.
Based: Ann Arbor
Operations: 1,062 pizza stores in 224 cities and a master franchise company based in New Delhi
Products/Services: Pizza and side items customized to the Indian palate, including many vegetarian options, paneer and lamb
International Automotive Components Group
Operations: Two plants and a technical, engineering and sales center in Chakan, and two plants in Manesar
Products: Components including instrument panel and cockpit assemblies, headliners and overhead systems, glove box assemblies, front grilles, doors, door trim, floor consoles, wheel liners, passenger car and heavy truck exterior trim and components
Based: Ann Arbor
Operations: An office in Delhi and home-based direct sales representatives in Chennai, Delhi, Bangalore and Mumbai
Products/Services: ProQuest dissertations and theses