For Immediate Release
June 21, 2017
Kam Kaila – Director of Communication, The Sikh American Chamber of Commerce (SACC)
732 379 6180 or email@example.com
CEOs Beware When Doing Business in India: Your Intellectual Properties are at Risk!
In light of Prime Minister Modi’s visit to Washington DC on June 23rd, the Sikh American Chamber of Commerce (SACC) would like to shine a light on a persistent problem affecting American CEOs in regards to their continued investments in India with our global membership expressing major concerns about the lack of protection by the Indian government.
During a previous visit by the Indian delegation, under the Obama administration, American CEOs collectively expressed their concerns with the lack of protection provided to entrepreneurs with regards to their Intellectual Property, Product Patents, Copyright infringement and much more. Since that delegations visit, members of the SACC have seen little relief to these continued concerns. Members of the SACC have been robbed of intellectual property and their customer contacts are being poached. The intellectual properties our members have spent a lifetime building are being stolen with no injunctive relief or recourse from the Indian government.
The SACC has consistently promoted giving back to our roots; helping to build up India. Our question to Prime Minister Modi, how can we continue to promote and support India, when India is not supporting or protecting us? What recourse does a CEO have when their customer lists are stolen? Or their patent is copied and sold cheaper? What protections are being offered from the central and local governments?
The greater concern is that the cost of doing business in India is becoming a liability for businesses. Until further protections and assurances are given, Western CEOs should proceed with caution when considering their growth strategies and developing investments in India.
On behalf of our members and our community, the SACC welcomes an open dialogue to discuss these challenges to better understand what the Indian government will do to assist in effectively protecting their investments. Until then- beware.
The Sikh American Chamber of Commerce (SACC) is a non-profit organization established with the unique vision to join Sikh businesses and professionals in the spirit of enterprise. Their goals are to provide a forum for effective business networking, promote entrepreneurship with the community, and assist other Sikh professionals in the continued growth of their businesses and their careers. Over the past 7 years, SACC has successfully coordinated a number of industry specific training workshops, networking events, career fairs, leadership summits, internship programs and an annual gala.