SoCal Global
Going Global in Southern California
Most of India’s ‘middle class’ earns between 1K and 2K
Aug 24th
Despite its shaky empirical foundations, the myth of the Great Indian Middle Class persists. A new Asian Development Bank report lauds the rise of the Indian middle class and projects it as the engine of global growth. However, according to the definition used in the report itself, the vast majority of this middle class earns between Rs 1,000 and Rs 2,000 per person per month. Only 0.0009% of Indians earn more than Rs 10,000 per month.
The ADB’s Key Indicators for Asia and the Pacific 2010 report released this week has a special chapter on the Rise of Asia’s Middle Classes. Projecting that the Asian middle class will dominate the next two decades (including crossing a billion in India alone by 2030), the report says that Asia’s emerging consumers are likely to assume the traditional role of the US and European middle classes as global consumers, and to play a key role in rebalancing the world’s economy.However, the definitions used to arrive at such conclusions scarcely fit with the traditional definition of the middle class, as those who have not inherited wealth, hold regular jobs and enjoy a degree of financial security that allows them to consume and save and support More >
Successful 3rd Annual India Trade Conference in Los Angeles – July 2010
Aug 12th
The 2010 India Trade Conference in Los Angeles had a strong line-up of speakers, compelling discussions, meaningful networking, and good energy. Theme: Green and Social Entrepreneurship. It was an all-day conference with insights on India trends, strategy, culture, risk and execution targeting India opportunities in new markets, sourcing, and investment.
3rd Annual India Trade Conference – Los Angeles, July 29, 2010 Presented by the Port of Los Angeles, Edison, NetIP, US Commercial Service, USC Marshall, and Quanta Consulting, Inc.
Featured speakers included:
v John Fielder, President, Southern California Edison
v Peggy Johnson, Executive Vice President of Americas & India, Qualcomm
v Holly Vineyard, Deputy Asst Secretary, South Asia, US Department of Commerce
v Paul Watson, Street Surfing (US Commercial Service Export Achievement Certificate)
v Steve Arnold, Regional International Sales Manager, Fedex
v Dan Bates, CEO, WindStream Technologies
v Gora Datta, CEO, CAL2CAL Corporation
v Dr. Sangeeta Gupta, Gupta Consulting Group
v Rob Guthrie, Business Initiatives Specialist, EXIM Bank
v Frances Harder, President & Founder, Fashion Business Inc.
v Julie Anne Hennessy, Director, U.S. Commercial Service
v Rajeev Kapur, CEO, Greenwala, Inc.
v Jim MacLellan, Director Trade Services, Port of Los Angeles
v Tim Murphy, First Vice President, Int’l Banking, Comerica Bank
v David L. Noe, Vice President, Americas, APL (American President Line)
v Sharad Pawar, COO, BeWo Technologies
v More >
Commercial Cooperation between the U.S. and India’s emerging regions
Jul 21st
WASHINGTON – As India’s emerging cities and states prepare for significant population increases in the next two decades, Under Secretary of Commerce for International Trade Francisco Sánchez today announced the Growth in Emerging Metropolitan Sectors (GEMS) initiative at the “Accelerating Inclusive Growth: The Future of the U.S.-India Commercial Relationship” seminar in Washington. The initiative will focus on building commercial ties between the United States and India’s emerging regions.
“The growth in emerging metropolitan sectors like Pune and Nagpur will accelerate and form new markets for U.S. and Indian businesses,” Sánchez said at the event jointly hosted by the U.S.-India Business Council and the Department of Commerce. “Developing the economies of these cities and states is critical as we work together as equal partners with mutual interests.”
It is expected that nearly 600 million people will live in India’s urban areas, with 68 Indian cities surpassing one million inhabitants in each of the next two decades. The annual income of households in cities will grow from about $700 billion today and double every five years and reach almost $4 trillion in 20 years.
“If we can work together to harness the potential of these new areas of growth, we can grow the economies of More >
‘More poor’ in India than Africa
Jul 13th
The new measure of poverty assesses household poverty Eight Indian states account for more poor people than in the 26 poorest African countries combined, a new measure of global poverty has found.
The Indian states, including Bihar, Uttar Pradesh and West Bengal, have 421 million “poor” people, the study found. This is more than the 410 million poor in the poorest African countries, it said. The Multidimensional Poverty Index (MPI) measures a range of “deprivations” at household levels. Developed by Oxford Poverty and Human Development Initiative (OPHI) with UN support, it will feature in the upcoming UNDP Human Development Report.
The measure assess a number of “deprivations” in households – from education to health to assets and services. “The MPI is like a high resolution lens which reveals a vivid spectrum of challenges facing the poorest households,” said OPHI director Dr Sabina Alkire.
3rd Annual India Trade Conference – Los Angeles, July 29, 2010
May 20th
Access New India Markets
You are cordially invited to the essential annual Los Angeles event on Doing Business with India. The Third Annual India Trade Conference is being presented by Southern California Edison; the Port of Los Angeles; the U.S. Commercial Service, U.S. Department of Commerce; NetIP, USC Marshall, and Quanta Consulting, Inc. Join in the success. Sponsor, participate, and engage. Latest information on conference speakers and sessions at www.IndiaTradeConference.com
CONFERENCE UPDATES: Confirmed speakers include Mr. John Fielder, President, Southern California Edison New York Life is a Platinum Sponsor of the India Trade Conference www.newyorklife.com JetSuite Air signs on as Silver Sponsor of the India Trade Conference www.jetsuiteair.com
The India Trade Conference is being generously sponsored by
Host Sponsor – Southern California Edison Platinum Sponsor – New York Life Silver Sponsor – JetSuite Air Special Sponsor – Port of Los Angeles Special Sponsor – Chubb Special Sponsor – Arroyo Insurance Special Sponsor – California Department of General Services
WHY ATTEND? Keys to Successfully Doing Business with India Insights on the New India Environment and Trends Real-World Case Studies and Interactive Panels Renewable Energy & Social Entrepreneurship Global Risk Mitigation Strategies Funding your Business Growth Valuable Networking Opportunities
DETAILS: Date: Thursday July 29, 2010 Time: 8:30 AM More >
US EXIM Bank
May 17th
US EXIM Bank – by Jim MacLellan Vice-Chair, Southern California Regional District Export Council
Many citizens and businesses do not realize that the US Export Import Bank of the United States exists, let alone knowing of the real reasons behind its establishment and its current importance to the recovery of the US economy.
It was established in 1934 by President Roosevelt to assist businesses to export by providing them with guarantees that they would be paid for their sales. At this time bank failures were an epidemic across the nation. This was the era of the Great Depression and it was one of the urgent measures which the President implemented to help the nation recover from a dire situation. Foreign Trade Zones were also enacted at this time.
The US EXIM Bank performed a critically important role in financing three key international infrastructure projects. The Burma Road, the Pan–American Highway and the Marshall Plan to help re-build Europe after World War II were among the historic accomplishments of the Bank.
We can now fast forward to the recent financial meltdown. Amongst the prime victims were US exporters. Even though they had export orders, and even though they had excellent credit records, many banks withdrew More >
BusinessWeek: Supporting Entrepreneurs in Muslim Countries
May 15th
U.S. encouragement of existing small businesses and future start-ups in the Middle East and North Africa will improve conditions and relations
By Leonard A. Schlesinger and Shahid A. Ansari
The World Bank estimates that 100 million new jobs will be needed in the Middle East and North Africa over the next 10 years to keep the region’s unemployment rates—now as high as 13 percent for adults and twice as high for young people—from climbing even higher. To meet the needs of this region’s rapidly growing population and put it to work meeting the world’s needs, there is no surer route than entrepreneurship. That was the big takeaway at the first-ever Presidential Summit on Entrepreneurship focused on the Muslim world, held at the Ronald Reagan Building in Washington in late April.
Entrepreneurial energy has a ripple effect on communities—leading not only to new jobs, but to better services and improvements in the standard of living, giving more individuals a greater stake in the future.
The Obama Administration announced a series of positive but small steps to build partnerships with governments, universities, and businesses, including an e-Mentor Corps and investor fund partnerships. More ambitious actions are still needed, such as best-practices sharing on a much larger More >
US Trade Rep: India Barriers to U.S. Trade and Investment
May 15th
Significant barriers to U.S. trade and investment faced in the last year as well as the actions being taken by the Office of the U.S. Trade Representative (USTR) to address those barriers.
INDIA
Tariffs: India maintains a system of cascading tariffs, taxes and other import charges that taken together are often cost-prohibitive. India’s tariff regime is characterized by pronounced disparities between bound rates (i.e., the rates that under WTO rules generally cannot be exceeded) and applied rates (i.e., the actual rates charged), and the average applied rate is among the highest in the world. Furthermore, India’s tariff schedule is not publicly available in one transparent, easily accessible location, which imposes significant burdens on importers.
Legal and Regulatory Issues: India’s legal and regulatory regime lacks transparency across all sectors. U.S. companies report unnecessary burdens, bureaucratic delays, discrimination and corruption as a result of unclear and inconsistent implementation of India’s trade and investment rules. Problems are encountered across all sectors, including government procurement, the tariff structure, import requirements, and investment policies.
US Trade Rep: China Barriers to U.S. Trade and Investment
May 15th
Significant barriers to U.S. trade and investment faced in the last year as well as the actions being taken by the Office of the U.S. Trade Representative (USTR).
CHINA
Industrial Policies: China’s industrial policies limit market access by non-Chinese origin goods by protecting favored sectors and industries, using tools like standards, local content rules, and government procurement regulations. One example involves China’s so-called “indigenous innovation” policies, which, among other things, provide preferences to products containing Chinese-developed IP for government procurement purposes.
Inadequate IPR Enforcement: In China, sales of infringing goods displace legitimate goods, and reduce U.S. access to China’s market and other markets affected by China’s infringing exports. Inadequate IPR enforcement affects a wide range of products, including films, music, publishing, software, pharmaceuticals, chemicals, information technology, consumer goods, industrial goods, food products, medical devices, electrical equipment, automotive parts, clothing and footwear.
Services Restrictions: China maintains prohibitions on foreign participation, restrictive licensing systems, foreign equity limitations, restrictions on scope of business and other measures that limit or block market access in a variety of services sectors. One example involves the telecommunications sector, where China has not approved any new suppliers of basic telecom services since joining the WTO in 2001 and maintains a web of More >
US Trade Rep: Japan’s Key Barriers to U.S. Trade and Investment
May 15th
March 2010. Significant barriers to U.S. trade and investment faced in the last year in Japan, as well as the actions being taken by the Office of the U.S. Trade Representative (USTR) to address those barriers.
JAPAN
Barriers to a Level Playing Field in Insurance, Banking, and Express Delivery: U.S. companies face an unlevel playing field in Japan’s insurance, banking, and international express delivery sectors in light of preferential treatment given to Japan Post by the Japanese government. Examples of advantages in the insurance sector include preferential supervisory treatment given to Japan Post Insurance over its private sector competitors, and preferential access for Japan Post Insurance to distribute its products through the Japan Post network. As Japan considers further reforms to Japan Post, while neutral on whether Japan Post should be privatized, the United States continues to urge Japan to fully resolve issues of preferential treatment and establish a level playing field, consistent with its international obligations.
JAPAN AND KOREA
Restricted Market Access for Autos: Market access for U.S. autos is restricted by Japan and Korea through a variety measures, leading to very low market share for U.S. and other imported autos. In the case of Korea, these measures include tariffs, standards, and discriminatory taxes. The pending More >
