In the latest episode of “Talking Trade,” Visthar founder Pradeep Nedungadi highlights trade opportunities for Wisconsin companies in India.
His company provides consultant services for businesses looking to operate in India, which is the second most populous country in the world.
“It’s a shame that the U.S. is just discovering India as a manufacturing option, and even as a trading partner in non-manufacturing businesses, only in the last 30 years,” he said.
Unlike China, he explains India has been historically focused on domestically consumed goods rather than export products.
“Now that the global automotive industry has entered India in the last 30 years, with largely Japanese companies but some U.S. companies and European companies, everything that follows automotive is also developed to world-class standards,” he said. “So now it is available to the Western world for products, parts and components. So the landscape is looking good.”
Many of Visthar’s clients are located in the Midwest, including Wisconsin, Illinois and Iowa. The company’s business has doubled in the past two years, and Nedungadi says he expects another doubling between 2021 and 2022.
“It’s from a smaller base, but as the base grows higher, we’re still maintaining that growth,” he said. “We’re expecting it to triple from 2022 to 2025.”