There has never been a better time than now for Colorado companies to do business in India, according to the head of the Denver-based National US India Chamber of Commerce.
U.S.-India trade relations received a considerable boost last week from President Barack Obama’s visit to the South Asia nation, said Purnima Voria, founder and chief executive of the chamber.
Voria, recently appointed to the U.S. Department of Commerce’s National Advisory Council for Minority Business Enterprises, flew to India to participate in Obama’s visit.
During the trip, Obama announced deals between Indian and U.S. companies that will support 53,670 jobs and create exports of $9.5 billion. He also pleased Indians with tough talk about Pakistan’s slow progress in rooting out terrorists, Voria said.
Colorado and other Western states have a chance to tap into India’s growing market strength, she said. Satellite cities such as Pune in western India and Hyderabad in the east are markets that Colorado companies should explore, she said.
“It’s very important to wake up to these economic opportunities or else other places are going to beat us,” she said.
Voria hopes to meet with Gov.-elect John Hickenlooper to pitch the idea of a Colorado trade mission to India.
India was Colorado’s 18th-biggest export market this year through August, according to data from WiserTrade and the World Trade Center Denver. Exports to the country fell in 2008 and 2009 — as they did across the board — but have rebounded this year with 22 percent growth.
Colorado companies including CH2M Hill, Quark, Gates, Western Union and ProLogis have operations in India, Voria said.
Aspen and Vail are becoming destinations for wealthy Indian skiers and homebuyers, she said. A group of Indian investors recently purchased a large plot of land in northern Colorado for a residential and golf-course development, she said.
Voria moved to Colorado 15 years ago when her husband was working as an engineer at Rocky Flats. She has stayed because her three daughters have attended college here. She called Colorado “the peaceful Kashmir of the United States” because of their similar mountain beauty.
Five years ago, Voria founded the chamber to promote trade between the countries. One of the chamber’s top issues is to promote the EB-5 immigrant visa program. It allows foreigners who invest $500,000 or more in U.S. ventures, creating or preserving at least 10 U.S. jobs after two years, to receive legal permanent residency along with their spouses and children.
Greg Griffin: 303-954-1241 or ggriffin@denverpost.com
