Building The Global Network
City-Based InterChange Accompanying Kaine On Trade Mission To India
HARRISONBURG — With the aim of developing its international trade business, a sales representative with the InterChange Group Inc., of Harrisonburg, will accompany Gov. Timothy M. Kaine on a trade mission to India.
InterChange provides logistical support, including warehousing, shipping, distribution and other services, to a wide range of businesses.
The company wants to create a network of trading partners in India, according to sales representative Terry Cunningham, who is making the trip.
"[India’s] middle class is growing at the highest rate in the world," Cunningham said. "The country will have lots of disposable income and they’re looking for opportunities for both import and export."
India has the world’s 10th-largest economy and the world’s largest democracy with 1.1 billion people.
Virginia exported $80 million worth of goods and services to India in 2005, the governor’s office said. But that is less than half of 1 percent of the state’s export total of $18 billion.
Kaine and a group of Cabinet heads, department leaders and business executives will depart for India on April 22.
Secretary of Commerce and Trade Patrick Gottschalk, Secretary of Technology Aneesh Chopra and representatives from the Virginia Economic Development Partnership will accompany the governor.
More than 100 people are registered for the trip, including chief executive officers, university professors and economic development directors from around the state.
Investment In Trade
The trip to India will be Kaine’s third international trade mission; the previous two were to Canada and Europe.
It is the first such mission for InterChange, Cunningham said, although the company is already involved in international trade.
InterChange exports 50 to 60 shipping containers for a variety of customers each week.
"We would like to enhance the amount of trade coming through Norfolk," he added.
InterChange stores and distributes products for India-based Chamong Tea Exports Pvt. Ltd.
"We put the tea into retail packages and make it available to restaurants and health food stores," Cunningham said.
In addition to meeting with the Chamong executives during the trade mission, Cunningham will see six to eight potential clients a day.
He’ll also be interacting with Virginia officials from Commerce and Trade, the Virginia Economic Development Partnership and others who work in international trade.
Redefining Markets
The trade mission will cost InterChange about $12,000, Cunningham said.
The state’s cost has yet to be determined, said Christie Miller, VEDP spokeswoman.
Then-Gov. Mark Warner’s 2005 trade mission to India cost $120,000, but Kaine is taking a larger delegation, and hotel costs are higher this year, Miller added.
India has abundant trade opportunities, said Vivek Kundra, Virginia’s assistant secretary of commerce and trade.
India’s middle class has 350 million people, more than the entire U.S. population of 301 million, and that is redefining the way markets work, Kundra explained.
Telecommunications is just one example of India’s potential in international trade growth, he added.
"India has the world’s fastest-growing subscriber [rate] for wireless telephones," Kundra said. "They can do it cheaper than in the U.S. because the scale is so large."
The state will match participating companies with potential clients in India, not only to help Virginia businesses sell to India, but to attract Indian companies to invest in Virginia.
The VEDP created profiles of InterChange and the other companies registered for the trip.
That will put Cunningham in touch with a tailored list of companies.
"I’ll spend several days meeting with people who have been matched with the profile of InterChange," Cunningham said. "I’ll see six to eight potential clients a day. It’s rather intensive."
Contact Dan Wright at 574-6293 or dwright@dnronline.com