For Immediate Release 23 November 2009

Launch of India Chamber to tap Markets in US and India

Bloomington, Minnesota: Almost 200 business and community leaders launched the India Chamber of Commerce on November 21, 2009 at the Hilton Bloomington in an attempt to grow the almost $50 billion trade market between USA and India. Minnesota Governor Tim Pawlenty in his remarks at the event emphasized the potential of Indo-US business relationships in creating jobs locally and the important role the chamber could play in this process. The Governor recently led a trade mission to India.

“A recent study by McKinsey Global Institute estimates the potential of the consumer market in India to be over $ 1 trillion by 2025,” said Seann Nelipinath, President & Director of the India Chamber of Commerce. “The Chamber will play an important role helping US entrepreneurs tap the emerging Indian consumer market and Indian investors tap the US markets,” he added.

“I estimate the Asian Indian consumer market in the US to be an estimated $71 billion nationally and close to $700 million in Minnesota,” said Dr. Bruce Corrie, Dean of the College of Business and Organizational Leadership, Concordia University and chamber board member. “This is an important niche market as documented in a recent study by New American dimensions,” he added.

“Business and community leaders who attended the event were from a wide range of industries ranging from education to alternative energy,” said Thomas Mathew, Executive Director of the chamber. “Deals were being struck even before the function ended,” said CY Wakeman, CEO of CY Wakeman Inc, and Director & National Chair for Women’s Business Council on the Chamber.

Purnima Voria, founder of the National U S India Chamber of Commerce based in Colorado was the keynote speaker. She shared insights from the national scene and suggested ways that the India chamber could grow. “What started as an organization focusing on bilateral trade has now emerged into one serving multilateral trade with countries such as Bangladesh, Mexico and China. The India Chamber has a similar potential,” said Voria.

First Lady Mary Pawlenty addressed the chamber and spoke of her work with Children’s HeartLink and her recent visit to India. She encouraged the chamber to work on solving India’s social challenges too.

Also present at the meeting was State Senator Satveer Chaudhary who has helped forge sister state relationships between Minnesota and Haryana, India. Recently a Minnesota delegation visited the state to explore potential business and educational opportunities.

Amongst others also present was Rick Aguilar, President & CEO of Aguilar Productions, Mahendra Nath, CEO of Nath Companies, PBS NewsHour reporter Fred de Sam Lazaro, Gopal Khanna, Chief Information Officer of the state of Minnesota, and Vice President Meredith McQuaid of the University of Minnesota who is spearheading the establishment of the India Center under the direction of the Minnesota Legislature.

“The potential is huge and with God’s grace the chamber Leads the Way by connecting US businesses with India and around the world” said Paul Kuttikadan, local businessman and chamber director as he emphasized the theme of the chamber. “It is a unique and sustainable business model which has great potential as it offers a win-win scenario for all,” he added.

For more information visit www.indiachamber.org or contact Seann Nelipinath, President, at 952-886-7550 or info@indiachamber.org