CG hosts India’s PHD Chamber of Commerce

India Post News Service
CHICAGO: The Consulate General of India Chicago in collaboration with US-India Strategic Partnership Forum (USISPF) hosted an “Industry Round Table on Strengthening Small & Medium Enterprises” during the visit of a business delegation from PHD Chamber of Commerce & Industry, India, on July 26.
Gaurav Verma, Chief Operating Officer of USISPF, opened the session and welcomed the guests giving a brief history about USISPF. Consul General Ms Neeta Bhushan, presenting the keynote address on the occasion, welcomed the PHD Chamber to Chicago and congratulated them on being a successful Chamber for almost 100 years. She said US Midwest is full of potential and there is a lot of trade, investment and educational collaboration between the Midwest states and India. She said the present Indian Government is committed to promoting trade between the two nations. She mentioned the flagship programs of the Government of India, like smart Cities, Digital India, Make in India etc.

She referred to Prime Minister’s address at the Plenary Session of the 10th BRICS summit in South Africa where he said, “In the Fourth Industrial Revolution, talent will become more important than money.” She highlighted from the Prime Minister’s speech where he said that digital revolution is bringing new opportunities and how it is essential to look at artificial intelligence and big data analytics closely and have the digital infrastructure ready.

Dr. Ranjeet Mehta, Principal Director, PHD Chamber of Commerce showed a movie on PHD chamber’s history and achievements over 113 years. He said that, established in 1905 by a visionary group of British and Indian businessmen, PHD the oldest Chamber in India was initially christened as ‘Punjab Chamber of Commerce’. To meet the expectations of the business in the neighboring states, the Chamber then expanded its presence at pan India level.
Being an apex Chamber, the ‘acronym’ in its name now epitomizes ‘Progress, Harmony and Development.’ He said that there are 6.38 MSMEs in India which are the main engines of growth and generate about 64 million employment opportunities.

Michael Mensik, Partner & Member, Steering Committee, India Focus Group, Baker McKenzie elaborated on the US-India Legal & Business Environment. Ms. Smita Shah Chairman Delhi Committee, Chicago Sister Cities International, spoke about Chicago as a business hub with 35 fortune 500 companies, airport connectivity, easy local transportation, 8 plus Consulates, and 100 plus trade promotion chambers. She informed that there are approximately 250, 000 American Indians in Chicago who are contributing to the economy of Illinois and India.
Raju Chinthala, Sr. Advisor for India at Indiana Economic Development Corporation, highlighted the Indiana & India trade ties. The event was attended by 50 entrepreneurs, heads of business organizations and business chambers in Chicagoland and US-Midwest.