NEW DELHI – The week of August 12, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 34 million small businesses, traveled to New Delhi and Hyderabad, India, where she met with national leaders and local entrepreneurs to promote the U.S.-India partnership and explore how to increase trade opportunities for U.S. and Indian small businesses.
The trip was part of the Biden-Harris Administration’s ongoing efforts to strengthen diplomatic and economic relations between the United States and India and deliver on crucial commitments from the state visit President Biden hosted for Indian Prime Minister Narendra Modi in 2023.
NEW DELHI
Administrator Guzman engaged with representatives from the Indian Ministry of Defence (MoD) and toured their Innovations for Defence Excellence (iDEX), which aims to foster small business and startup innovation in the defense and aerospace sectors. They discussed commitments made under the India-U.S. Defense Acceleration Ecosystem (INDUS-X) and opportunities for small businesses in the U.S. and India to innovate, commercialize, and collaborate on cutting-edge defense technologies.
The Administrator also met with women entrepreneurs at a Self-Employed Women’s Association (SEWA) Bharat center, a network of women-led organizations that works across India to address the needs of working-class women at home and in the marketplace. Additionally, she toured the Viraasat Handloom Expo and engaged with small and medium-sized women-owned businesses.
Administrator Guzman held a meeting with Nivruti Rai, Managing Director and CEO of Invest India, to discuss how the U.S. and India can work together to support startups and innovation globally. She also participated in a roundtable with the U.S.-India Business Council (USIBC) and Confederation of Indian Industry (CII) alongside business leaders in the technology sector.
The Administrator delivered on commitments made in the Joint Statement by President Biden and Prime Minister Modi with the signing of a Memorandum of Understanding between the SBA and the Republic of India’s Ministry of Micro, Small and Medium Enterprises (MSMEs) to strengthen the two countries’ joint work to promote MSME participation in the global marketplace, share best practices to grow entrepreneurship, and expand international trade. The Administrator and Secretary of India’s Ministry of MSMEs discussed India’s creation of a business-matching digital platform to assist businesses in both countries interested in global partnerships and opportunities. Following the signing, the Administrator met with senior leaders in the Ministry of MSMEs for a discussion on promoting access to capital and technical assistance for small businesses to thrive.
Administrator Guzman also met with Minister of Commerce and Industry Piyush Goyal to underscore the United States’ commitment to strengthening its relationship with India and the importance of partnership in supporting MSMEs in various sectors at the center of the U.S.-India relationship. Joined by U.S. Ambassador to India Eric Garcetti, they reiterated their mutual commitment to collaborating on small business growth and exporting opportunities between the two countries, discussed how the SBA supports small businesses within the Indian diaspora, and outlined plans for future engagement to fulfill the MOU and continue fostering collaboration.
HYDERABAD
Administrator Guzman started her visit in Hyderabad at the Indian School of Business (ISB) to tour the i-Venture Incubator, which offers cutting-edge programs and resources to support startup growth. She met with successful startups incubated at i-Venture and met with ISB leaders to learn about India’s vibrant startup ecosystem and discuss potential areas for partnerships between the SBA and ISB’s entrepreneurial networks.
The Administrator followed this with a visit to Technology Hub (T-Hub), India’s largest tech incubator, where she met with CEO Mahankali Srinivas Rao, toured the facility, and engaged with startups. Administrator Guzman highlighted the U.S. government’s support for innovation and entrepreneurship and discussed opportunities for T-Hub to collaborate with incubators in the United States to better connect small businesses interested in global markets.
She also visited WE Hub, India’s first and only state-led incubator for women entrepreneurs. Administrator Guzman participated in a roundtable with women entrepreneurs to hear about their successes and the challenges they face, and learned about WE Hub’s partnerships with other countries to explore potential partnerships and information-sharing programs.
For follow-up interview requests for Administrator Guzman, please contact Rebecca Galanti at Rebecca.Galanti@sba.gov.
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.