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You are a bank situated and operating in one of the 50 States of the Union. Your forte could be handling the credit needs of a particular region, providing finance for certain types of industries or handling trade between the USA and an overseas country. Whatever be the case, it is natural for your customer to first approach you, for advice, and support if they are thinking of diversifying or taking up a new venture. Since India is now in the news, they could come to you for India-related trade
India may not presently be high on your agenda. Nevertheless, it is time to sit up and reconsider your options because India is a nation on the move. Increasing external debt, balance of payments problems, insufficient value-added exports, etc., are hurdles of the past that India has already distanced itself from. All this has been possible because India has systematically set about achieving its goals. India has deregulated and delicensed many sectors of the economy. Foreign exchange regulations have been liberalized and the value of the Indian currency vis-a-vis the dollar has now been left to the dynamics of market forces. Exporters have been encouraged by incentives while foreign investors/industrialists have been wooed by giving priority allotment of land/sites in export processing zones, reduced tariffs on import of equipment, removal of duties on import of technology, etc. In fact, the sectors of power and energy, infrastructure development, and telecommunications have been opened to the world at large. As such, it should be clear by now to all that "India, really means business".
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