In today's "Global village", scouting around for business is no problem. In fact, with the touch of a button you could be in contact with someone in another country and within a few minutes you could even close a deal. But then, such quick fixes may be an elusive dream if you are dealing with a new client, or an unknown country, unless, of course, you have an experienced trading partner.

Well, there could be many reasons. However, the fact remains that every businessman must have his eyes trained on India for, after all, it is the, fifth largest market in the world in terms of purchasing power parity. India is one of the world's most exciting emerging markets with extensive infrastructure for doing business. India has a good legal system which is reputed to be among the world's most independent and efficient ones.

The Uruguay round of GATT has improved the infrastructure for cross-border and world trade. Further, India, in its outward looking- quest has liberalized and opened its economy to the world - challenging industrialists as it were to set up joint ventures or wholly owned subsidiaries in the field of power generation, infrastructure development, telecommunications, etc. Procedures for import of capital goods, approval for setting up industries, repatriation of income, etc. have been liberalized with the effect that investment has flooded into India and Indian companies have been able to raise loans at very fine rates in the Euro-dollar market.

The above development and the fillip given to exports have been responsible for India now having foreign exchange reserves of more than 18 bn. dollars. India is now looking for technology and for equipment to upgrade its existing manufacturing facilities to meet exacting world standards. It has also been shopping around for power generation equipment and telecommunication networks in a big way in order to speed up the process of industrialization.

Now is, therefore, the right time to do business with India. Probably the first thing to do is to team up with, deal or route India related business through an organization that knows the nuts and bolts of doing trade with India. That way you can concentrate on closing deals and booking profits while the nitty-gritty of India trade is handled by experts in the line. Bank of India is just who you should be looking for and here's why.

Bank of India, set up in 1906 headquartered in MUMBAI(Bombay), India and has a network of 2594 branches spread over the length and breadth of India. Bank of India is well versed in international trade and has branches in financial centers of the world like London, Tokyo, Singapore, Hong Kong, Paris, etc.

Bank of India, New York Branch and San Francisco Agency have been operating since December 1978 and December 1977 respectively and familiar, confident, and comfortable-doing business the American way. Bank of India, New York and San Francisco have a team of banking professionals who come from different parts of India. These officers are well versed in India-related trade and also have personal rapport with key persons in the banking sector. As such, Bank of India is in a position to get things moving in India - something no other bank here might be able to do.

Bank of India offers the following services:

• Advising and adding confirmation to LCs opened by Bank of India branches in India or overseas. Also, on request advising and adding confirmation to LCs opened by other banks in India.
• Opening of LCs on India and getting them confirmed by branches in India, if required.
• Negotiating drafts drawn under Indian banks' LCs whether advised through us or otherwise, so long as they are not restricted LCs.
• Discounting drafts drawn under Indian banks' DA LCs at competitive rates.
• Issuing guarantees through our branches in India
• Advisory services in respect of doing business with India, guidance on documentation for LCs emanating from India.

The above list is illustrative and not exhaustive. If there are any other services required, you are welcome to call us and inquire because Bank Of India can offer you the right business solution. Our services are prompt and efficient and we can ensure quick reimbursement. A look at our charges would convince that we are extremely competitive.

So, don’t hesitate, give us a call and let us do business with India hand in hand. You will realise that if you do business with India it is better done through Bank of India. For further information, please call Mr.A.Ranganathan at toll free No. 1-800-232-2828 or 212-753-6100 (Ext. 390)