Two Indian-Americans Honored For Contributions In US Economy

October 25, 2017 16:33
Two Indian-Americans Honored For Contributions In US Economy

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Two Indian-Americans Honored For Contributions In US Economy:- Two Indian-American businessmen, in recognition of their small, but significant contribution to the US economy, have been honored by US President Donald Trump.

Along with seven other owners of minority businesses, Trump felicitated Sharad Thakkar and Karan Arora, in the Oval Office of the White House on Tuesday.

Thakkar is the President of the firm Polymer Technologies. This company is a recipient of Minority Energy Firm of the Year. Polymer Technologies, based out of Ohio, works with plastic industry individuals, to transform their throwaway scarp plastic into valuable raw material. The PTS holds a proven track record of providing long-term solutions in home care, automotive and lawn care product lines.

Coming to Arora, based out of Florida, is a director of family-owned Natural Vitamin Labs. This firm too, just like PTS, is a recipient of Minority Export Firm of the Year award. NVL operates from a 95,000-sq ft facility in Miami, Florida, with 25 years of experience in supplying natural health products to industry partners worldwide.

The facility is built with manufacturing practices system and fully automated packaging machinery. It allows precision and error minimization, resulting in high speed production.

From the Commerce Secretary Wilbur Ross at an event in Detroit, on Monday night, Thakkar and Arora received their respective awards.

Both the Indian-Americans came to the US as students for studies and through H-1B and Green Card, earned the pathway to citizenship.

America’s manufacturing base is being revived by Trump’s policies, said Arora. The tax code simplification would come out as a great boon for small-family owned businesses like his. “There is a big demand (globally) for US-made products, which have more value anywhere in the world,” Arora said. The great contributions are made by the Indian-Americans, to the US economy, said Thakkar. Hailing originally from Baroda, Thakkar came to the United States some 30 years ago.

“I am very proud that this country gave me this opportunity,” he said.

Whereas, Arora, originally from Mumbai, moved to the US in 2000, for undergraduate studies. “The opportunities that we had have been fantastic, tremendous,” he said.

Trump, during his interaction with Thakkar and Arora along with other awardees inside the powerful Oval Office “congratulated all of us”. He said he is “proud of” minority businesses and their contribution in creating jobs in the country.  

While praising Trump’s policies, Arora said businessmen like him “rather than tax planning, need to spend more time on business planning”. The minority businesses would definitely be helped with the simplification of tax code. “The tax reform, would not only simplify the process, but also put more money into businesses,” Thakkar said.

Trump, in his remarks, said to empowering minority business owners, his administration is deeply committed. “We’re working to lift government barriers so that you can thrive, prosper, and grow,” he said.

Last year, there are 996,246 minority-owned firms nation-wide, with paid employees, and from the previous year it is up 4.9 per cent. Around USD 1.1 trillion of annual revenue is produced by these minority-owned businesses, he said.  Eight million people are employed, but only 22 per cent of them have 10 or more employees. “So there’s plenty of room to grow. But we know that minority entrepreneurs are up to the task,” he said.


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