NEW DELHI: Texas and India bolstered economic ties in a roundtable discussion hosted by the US-India Strategic Partnership Forum (USISPF) in Delhi on Thursday. Texas Governor Greg Abbott engaged in discussions with USISPF member companies, emphasising ways to enhance bilateral trade between the Lone Star state and India.
Governor Abbott highlighted Texas’ appeal for business expansion and relocations due to its business-friendly climate and skilled workforce. He also underscored the state’s role as a national leader in US energy production, contributing nearly one-fourth of domestically produced energy.
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Nivedita Mehra, Managing Director, India at USISPF, noted Texas’ significance for Indian foreign direct investment, citing a decade-long influx of $1.4 billion through 59 projects, generating over 10,300 jobs. She said, “Texas continues to be a focal point for Indian foreign direct investment, witnessing a decade-long influx of $1.4 billion in capital investment through 59 projects, generating over 10,300 jobs.
“In 2022, the total trade between Texas and India amounted to $20.4 billion, solidifying India as the state’s 11th-largest total trade partner. Today’s roundtable sets the stage for productive discussions that will contribute to the ongoing success and growth of the Texas-India partnership.”
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Presently, the second-largest US state by GDP, Texas presents compelling investment opportunities in energy, technology, aerospace, defence, biomedical, agriculture, and manufacturing for Indian corporations. Additionally, the state is home to a significant Indian diaspora in cities like Houston, Austin, Dallas, and San Antonio.
India ranks ninth globally for the number of foreign direct investment (FDI) projects in Texas. Over the last decade, Indian companies invested $1.4 billion in capital through 59 projects, creating more than 10,300 jobs. In 2022, Texas’ total trade with India amounted to $20.4 billion, with exports reaching $13.3 billion, representing 28 per cent of all US exports to India.
About USISPF:
The USISPF is devoted to fostering the strongest collaboration between the US and India. As the sole independent non-profit organisation dedicated to enhancing the US-India partnership, with offices in Washington, DC, and New Delhi, USISPF serves as a reliable ally for businesses, non-profit entities, the diaspora, and the governments of both India and the US.
