Founded in 1836, the Bombay Chamber of Commerce and Industry is one of the oldest business organizations in India. 187 years after its foundation, the Bombay Chamber continues to play a significant role in the development of its members and the city of Mumbai.
GMI POST spoke with the Bombay Chamber Director General Sandeep Khosla and President of the Board of Directors Nilesh Shah to know more about the Bombay Chamber and the substantial investment opportunities in India.
“As a chamber, we serve as an effective vehicle of communication and collaboration between regulatory bodies, our members, interested investors, and even other industry associations beyond the boundaries of Mumbai,” said Shah.
Shah added that the Bombay Chamber supported a large base of organizations across sectors, from SMEs to large corporations, and brought them together in the hopes that members would support each other and come with new solutions to the most pressing global issues.
A recent project that highlights the chamber’s dedication to promoting innovation is its partnership with the Society for Mumbai Incubation Lab to Entrepreneurship (SMILE) under the Municipal Corporation of Greater Mumbai (MCGM). Together, the SMILE Council and Bombay Chamber will work with local civic tech entrepreneurs to convert their ideas into viable business propositions.
“We have a very large and thriving business community. And while large Indian companies are already known in the Western world, our micro and small-medium enterprises are so innovative and entrepreneurial that anyone who wants to invest in them would really benefit,” said Khosla.
About the investment opportunities in India that await foreign investors, Shah said: “India is open for business. In fact, India is one of the most open and unique markets from an investment point of view. The largest private sector bank in India is mostly owned by foreigners. The largest housing finance company is also owned by foreigners.”
“The same can be said for India’s largest automobile company, India’s largest FMCG company, and India’s largest publicly-listed insurance company. You will find that India has been more than happy to give majority ownership to foreigners in many sectors. And it’s thanks to these kinds of partnerships that many companies have built and will continue to find success in India,” he added.
Visit https://bombaychamber.com/ to learn more about the Bombay Chamber of Commerce and Industry.