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South India - Right Place, Right Time

U.S. Export-Import Bank President & Chairman Fred P. Hochberg addresses members of the Indo-American Chamber of Commerce at the IACC in Chennai on January 4, 2012. (State Dept.)

U.S. Export-Import Bank President & Chairman Fred P. Hochberg addresses members of the Indo-American Chamber of Commerce at the IACC in Chennai on January 4, 2012.

U.S. Consul General Jennifer McIntyre welcomed U.S. Export-Import Bank President & Chairman Fred P. Hochberg on January 4, 2012, during his visit to the Indo-American Chamber of Commerce (IACC) in Chennai, noting: “Mr. Chairman, you are in the right place at the right time. South India is leading the charge in India’s fast-growing economy.” 

“From information technologies, aerospace, power generation, infrastructure, life sciences, and manufacturing and machine tools, it’s all happening here,” Consul General McIntyre added. “I am glad that you will be visiting Chennai, Bangalore and Hyderabad to see firsthand the full scope of this growth.” 

During his keynote address to the IACC, Hochberg spoke about exporting, which he has said is “an integral part of any good business strategy.”  He also mentioned, when answering reporters’ questions, that the Ex-Im Bank has been “actively exploring” the idea of giving education loans, via Indian entities, to help Indian students who want to study in the U.S.  Hochberg added that the bank would have to “work with an entity” on this matter, however, as it could not give individual loans to students.   

Hochberg is one of the highest ranking business leaders in the Obama Administration. Under his leadership, the Ex-Im Bank has approved more than $32 billion in export financing in the past fiscal year, and supported about $40.6 billion in exports at more than 3,600 U.S. companies.  During Hochberg’s tenure, the Bank has also increased its focus on customers - both foreign buyers and U.S. exporters.

 Consul General McIntyre presented special remarks during Hochberg’s visit to the IACC. Gem Group Chairman R. Veeramani, Indian Overseas Bank Chairman & Managing Director M. Narendra, and Orchid Chemicals & Pharmaceuticals Limited Chairman & Managing Director K. Raghavendra Rao also spoke at the event. 

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