Belton Industries Inc., a South Carolina-based company is a prime example of a U.S. firm that seeks to benefit from India’s liberalizing economic policies adopted in 1991. After more than 50 years of importing from India, the company now is beginning to market its products there.
Its geosynthetic product for repairing India’s “notoriously poor” roads was “on the negative list” until Prime Minister Narasimha Rao instituted liberalization policies, said Teji Sahni, the Atlanta-based vice president for international development of the Belton, S.C. company.
Speaking to representatives of Atlanta companies at a “Going to Market in India” workshop June 20, Mr. Sahni said that while Belton is exceptional for its historic ties to India, companies with “patience and perseverance” should be able to crack the immense market.
The company once operated two manufacturing facilities in India and today imports fibers used in packaging and erosion control from the South Asian country.
Panelist Mahendra Srivastava, president of MPS Financial Group, a consulting firm that focuses on technology transfers and joint ventures, said that regardless of changes in the political leadership, the economic reforms of Mr. Rao are now “irreversible.” Since a 1991 currency devaluation, the rupee has been convertible on trade and current accounts, he said.
For more information, call Mr. Srivastava at (404) 813-9665 or Mr. Sahni at (404) 587-0257.