USISPF hosts governor Abbott of Texas for a Texas-India Trade Partnership Roundtable in Delhi
Jan 25, 2024
New Delhi [India], January 25 : The Governor of Texas, Greg Abbott, participated in a Texas-India trade partnership roundtable discussion hosted by the US-India Strategic Partnership Forum (USISPF) in New Delhi on Thursday.
According to an official press release, the governor, during the round table, discussed ways in which Texas can continue to strengthen its economic ties and expand bilateral trade between Texas and India.
"The Governor outlined Texas' position as the premier destination for company expansion and relocations due to its business-friendly climate and world-class workforce. Governor Abbott also highlighted Texas' position as a national leader in US energy production, noting that the state provides nearly one-fourth of the country's domestically produced energy," the press release read.
Speaking on the occasion, Nivedita Mehra, Managing Director, India at USISPF, said, "Texas continues to be a focal point for Indian foreign direct investment, witnessing a decade-long influx of USD1.4 billion in capital investment through 59 projects, generating over 10,300 jobs."
"In 2022, the total trade between Texas and India amounted to USD20.4 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," she said, according to the press release.
Texas is presently the second-largest US state by GDP, and presents fascinating investment opportunities in energy, technology, aerospace, defence, biomedical, agriculture, and manufacturing for Indian corporations, the press release added.
The Lone Star State is also home to a large number of Indian diaspora across cities such as Houston, Austin, Dallas, and San Antonio.
India is ninth among all nations for the number of foreign direct investment (FDI) projects in Texas. According to Indian industry estimates, Texas is the most popular destination for Indian FDI capital investment and jobs created in the US.
In the last decade, companies from India have invested USD1.4 billion in capital investment through 59 projects in Texas, creating more than 10,300 jobs. In 2022, Texas' total trade with India totaled USD20.4 billion, making India the state's 11th-largest total trade partner. That same year, Texas exports to India totaled USD13.3 billion.
Texas exports account for 28 percent of all US exports to India.
