As part of its efforts to strengthen strategic alliances between the US and the Indian IT industry, the National Association of Software and Services Companies (Nasscom) recently took a delegation of SMEs to the US to help them explore the possibilities of entering the American market.
Said to be a one-of-its-kind engagements program, the delegation of small and medium enterprises (SMEs) visited several states, including New Jersey, North Carolina, Ohio, Michigan and Texas, from July 15 to 22.
They got a chance to meet top government officials, including the governors of New Jersey, North Carolina and Ohio, besides companies cutting across industries, economic development departments, and law firms and consulting firms, a media release said.
"This program is a step forward towards doing business in the US, as it helps strengthen strategic alliances between the US and the Indian IT tech industry. The program will help strengthen the commercial and economic ties between American and Indian businesses to create a win-win scenario," Shivendra Singh, vice president and head of Global Trade Development, Nasscom, said.
It would further support the SMEs by ensuring hand-holding and providing low-cost shared services landing options in various target states, he added.
"The fact that this delegation has been hosted by governors in three states clearly highlights the value and commitment they have to supporting Nasscom and its member companies looking to make forays in the US market," Singh said.
Reinforcing the support to the SMEs to ensure their growth in the US, Nasscom also signed a memorandum of understanding (MoU) with Automation Alley, a not-for-profit trade body from Michigan.
The MoU envisages a low-cost shared services model of soft landing, regulatory and legal support and supporting the Nasscom member companies to engage with the local business ecosystem.
The US remains the single-largest export market for the Indian IT industry. However, it is also the market where the SME segment struggles to find the right base, the appropriate landing point to enter and cater to the market, the release said.