Manufacturing looks like it's turning the corner here in the US, so now is a good time for our domestic producers to look at expanding their businesses. Frank Seidel, Managing Director at Wamser Batra USA, thinks India is a great market to look at, and he joined us to tell us why that is and what companies here need to do about it. He looks at demographics and income growth and says India beats China as a growth market hands down.
Now, to be fair, what Wamser Batra USA does to make their money is to help companies do exactly the above. But Frank didn't join us for a no-hold-barred sales job - he brought practical advice on how to get started, what to do along the way, and how to succeed at what he says has to be a long-term play. Here's a timeline with some highlights:
7:20 - the importance of due diligence
10:40 - why it's critical company leaders actually go to India
14:30 - why you should bring the CEO of any Indian company you're going to partner with here to the US
17:40 - the different production options, like making here and exporting there, making domestically for each separate market, or making there and importing here
There's a whole lot more great advice and concrete steps to take. It boils down to what Frank shared with me separately: "Don't just go to India because it looks like a good opportunity. Make sure it's the right fit for your business."
Tune in and check out the whole thing!