The Indo-American Chamber of Commerce was founded in 2022 by Dr. Charan Shikh, the current president of IACC when he realized that for the past 30 years he’s been acting as a “one-man chamber”.
Dr Charan Shikh was involved in changing of India’s Foreign Exchange Regulation Act (FERA) which went in to effect in 1974. A giant step was taken for India’s economic and foreign trade policy liberalization.
The late 1970s was a tumultuous period in Indian politics fuelled by a wave of anger towards the Indira Gandhi-led Indian National Congress, which had declared a state of emergency on the nation between 1975 and 1977.
At the time, several international companies, including IBM and Unilever, had a presence in India. However, it was becoming increasingly difficult for them to operate effectively because of the Foreign Exchange Regulation Act (FERA), which had come into effect in 1974. Under FERA, the country placed a cap on foreign equity participation at 40 percent, made the economy unsuitable for multinational companies (MNCs).
By 1978, Coca-Cola, IBM, Mobil and Kodak had already quit India or had applied to do so. Coca-Cola, for instance, was the leading beverage giant until it chose to exit the country because of FERA norms and the government’s insistence that it reveal its secret formula.
Just Doing the Business
1989 – 2014
Just doing the International business and trade, Dr Shikh helped a lot of Indian businesses and local businesses in the community and help facilitate a lot of Indian businesses to come to US and help create a local eco system of creating jobs, helping economic development, workforce development and community development for the State of Georgia. He was also facilitating US companies to go to India and help establish them and help them in finding Indian Markets.
Helping Other Businesses
Helping other businesses “not be in the business by themselves, but for themselves”
25 years of experience in doing business and helping other businesses Dr Shikh found himself with a lot of resources in the US and in India and with the relationships he created in those years he decided to share those resources with others to help them connect, promote and grow their businesses.
Resources and Relationships
Dr Charan Shikh visited India with a delegation of business and community leaders from Atlanta. on an International Trade Mission. With the help of Consul General of India in Atlanta and Ministry of External Affairs (MEA) it was a very successful visit in creating great alliances and help International Trade between India and State of Georgia.
On the way back from India he seriously started thinking about a new concept in international chamber to also involve the local diversity in the community and business. He started the board structure to involve the greatest business and community leaders.
With the help of 36 great community and business leaders on board The Indo-American Chamber of Commerce -Atlanta rolled out the local community membership in January. We have had a very successful membership signup and some of the most talked about leadership networking events in Atlanta.
IACC gives you tools to grow your business.
Indo-American chamber of commerce is a network of diverse businesses and professionals working together to build a healthy economy and improve the quality of life in the community. We help to further the interests of small businesses and revitalization of local communities.