“Make India a Global Information Technology power and one of the largest generators and exporters of software in the world within the next 10 years…” Prime Minister Atal Bihari Vajpayee.

Howard Asher, CPA recently returned from an extended visit to India. It was his second trip to Asia in the last six months. India, like China, is country on the brink of a major economic evolution. Following a long-awaited liberalization of fiscal policy, India, assisted by the United Nations Industrial Development Organization (UNIDO), began to work toward creating a favorable business climate. Rightfully touting itself as a rising star in the global marketplace, India ultimately emerged as a leading competitor in the information technology arena. Now a hotbed of opportunity, India is attracting the attention of capitalists both at home and abroad. In response to this new wave of entrepreneurial interest, the Indian government established the National Center for Trade Information (NCTI), a non-profit foundation charged with the responsibility of launching a world-wide interactive technology network to monitor trade and investment developments throughout India. The organization is also responsible for disseminating all of India's business, economy, and investment related information.

A country on the cusp of economic transition presents ideal circumstances for a visit by the progressive, proactive, prolific Howard Asher, CPA. After years in the industry, Howard Asher understands the complex strategies that drive a nation's financial infrastructure. Together with prominent businessmen and financial professionals Howard examined the issues impacting India's potential for economic growth, including the intrinsic relationship between technology and investment opportunity.

Howard's first stop brought him to New Delhi, one of India's important industrial centers, where he met with A. K. Sharma, Partner, and Samir Manocha, Anil Verma, managers, all members of the Chartered Accounting Firm of Ray and Ray. The three discussed a host of topics including the resolution of India's Minister of Finance, Yashwant Sinha to increase the country's share in world trade to 1% by 2004. Particularly threatened by the potential for economic expansion in China, Maran articulated his concerns during a recent address. "Competition from China is a challenge which cannot be met by anti-dumping measures alone," the Minister told his country's Board of Trade. "The ultimate answer is to improve our competitiveness." After participating in economic discussions with several of China's foremost financial experts during a trip to that country earlier this year, Howard Asher was able to provide his colleagues with an informed perspective regarding the Minister's concerns.

Later, Howard traveled to Mumbai (Bombay), the city at the cornerstone of India's technology boom. As the home of several of India's Software Technology Parks including: International Infotech Park in Vashi; Millenium Business Park in Mahape; IT Park in Belapur and Dhavangiri IT Park and SEEPZ, SEEPZ Park, both presently under construction, Mumbai emerges as India's most dynamic technology hub. Here, Howard met with Anil Karnik, F.C.A., at the Ray & Ray affiliate office in that city. The two discussed the importance of establishing contacts to meet the financial management needs created by India's growing economic and technical partnerships with the countries around the world, particularly in the United States. As always, Howard Asher worked tirelessly to develop prospects and create contacts among the venture capitalist community in India and beyond.

Howard Asher returned home with an even greater resolve to continue traveling the world, transcending cultural differences, exchanging ideas, and galvanizing people toward one common goal: progress. Now, as Philadelphia breaks ground on the glass and granite towers that will house its spectacular new World Trade Complex, Howard Asher will once again be called upon to lend his knowledge, experience and integrity toward projects aimed at luring international businesses to Philadelphia. Why? The answer is simple, with the indefatigable Howard Asher in the mix, one thing is certain…..Success!

		(l-r) A.K. Sharma, Howard Asher, Anil Verma and Samir Manocha meet in New Delhi. Mr. Sharma is a partner at Ray & Ray. Mr. Manocha and Mr. Verma are Managers.
		(l-r) A.K. Sharma, Howard Asher and Samir Manocha.
		(l-r) Anil Karnik and Howard Asher discuss global business in Mumbai. Mr. Karnik is a partner at Ray & Ray.

Back to News Archive