Colorado has been building a strong strategic partnership with India, and opportunities continue to grow for businesses in both regions. Colorado businesses can leverage the Indian market by expanding and exporting their products and services to its economy. The Colorado Office of Economic Development and International Trade (OEDIT) offers a number of programs to encourage Colorado companies to export their products to help grow their business.
Exploring the Indian market
India provides a wealth of opportunity for Colorado companies in industries such as aerospace, agriculture and biotechnology. India has the fastest growing major economy and third largest economy by purchasing power parity. It is also home to the world’s second largest mobile and internet market, with one billion mobile users and 687 million internet users.
Other statistics about India’s economy include:
- #1 fastest growing e-commerce market
- #1 global fintech adopter
- #2 largest steel producer
- #2 startup ecosystem
- #3 largest domestic aviation market
- #9 largest aviation industry
Colorado’s ties to India
In fall of 2019, Governor Jared Polis led an inaugural trade mission to India with a diverse delegation of Colorado partners to start a collaborative idea exchange centered upon cleantech, smart mobility and renewable energy. India’s vision mirrors Governor Polis’ Bold 4 vision, with affordable clean energy and quality education as top priorities for the country.
Earlier this year, Square Comp, an early-stage, Indian technology company, announced Fort Collins as the home of its new US headquarters. This company was first introduced to Colorado during the trade mission.
Support for Colorado businesses looking to export to India
The State Trade Expansion Program Grant provides funding to help Colorado small businesses expand internationally by funding international business development activities such as attending trade shows and leveraging U.S. Commercial Service programs.
Colorado businesses can take their first step in learning how to export their products and services to India by applying to participate in the Global Consultant Network. This program provides discounted consulting services to Colorado small businesses looking to export into specific markets like India. Consultants offer support in researching market trends, understanding tariffs and duties and setting up in-country partner meetings, among other professional services.
We also encourage businesses to sign up to receive updates on exporting and other international opportunities from our Global Business Development division.