India has a special place in my heart. Not only is it the ancestral homeland for my brother Steve and me, but also it’s a country that’s commitment to innovation has buoyed advances in technology around the globe, a history sacred to a tech nerd like me.
For a long time, it was boom time. But in recent months, India’s burgeoning economy has been slowing down, thanks to high food prices, wary investors and a currency that has fallen nearly 23% against the dollar since May, widening the trade deficit.
But for companies going global like Concur, there’s no more important partner than India. Even in a period of uncertainty. We believe that being a global company also means being a local one, too, which is why Concur opened offices in both Mumbai and Bangalore. And more than two years ago, we invested $40 million in Cleartrip, a domestic online travel company serving corporate business travel in India.
Not only was our investment a strategic business decision, but also a testament to the promise and power of India’s strong economic future. I still think that promise is moving forward, and Concur should be a part of it.
That’s why Concur recently hosted India’s Ambassador to the U.S. Nirupama Rao visit to our headquarters in Bellevue, Wash. Her visit gave us an opportunity to reassert our commitment to continued partnerships between our countries.
We talked about innovation and the cloud. We discussed Concur’s history and our opportunities for the future. And, we discussed the importance both of our countries need to place on education.
Ambassador Rao’s visit reinforced something I already know: that India is a crucial partner in the success of any technology company, including Concur. We are wholeheartedly committed to India and will continue to expand and invest there to foster innovation for generations to come.