India Presents a Golden Opportunity to the Golden State
Business leaders from the fashion to aerospace to medical industries had a rare opportunity for a meet and greet to discuss ideas with Shri Piyush Goyal, the Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Government of India, at an event held at the Delta Hotels by Marriott Anaheim in Garden Grove, Calif., Sept. 10.
From Caltech and UCLA to Hollywood and Bollywood, aspiring young talent in India are being encouraged to dream big, said the minister, who spoke of the many accomplishments achieved in India over the past 75 years, including millions of homes getting power for the first time.
Goyal shared his vision for India in the next 25 years as an emerging economy. “With more people gaining access to the internet in India, consumers want to wear what they’re seeing online and shifting their focus from low-quality to higher-quality textiles and fashion,” said Goyal.
There’s a very large population looking for new ideas and new and trendy products, said Ram Sareen, chairman and CEO of the Los Angeles–based Tukatech, a visionary in developing technology for the fashion industry. “Merging design and trends from India with those from California to India is, I think, a marriage made in heaven for the two largest democracies. Understand the fit for India and you have yourself a huge opportunity.”
The event was hosted by the Consulate General of India, San Francisco,and the US-India Business Alliance of SoCal. “I found him [Goyal] to be really inspirational, and the first thought that came to me is that India is in good hands,” said Gaurav Bhargava, founder of the US-India Business Alliance of SoCal and owner of LPH Apparel Inc. in Santa Ana, Calif.
Further discussions are in the works to find ways of reducing duty fees for exports to India.