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| Texas Governor Greg Abbott |
New Delhi Day Two Mission Recap: Governor Abbott Strengthens Texas-India Economic Ties
New Delhi, – Texas Governor Greg Abbott, on the second day of his economic development mission in New Delhi, took significant strides in bolstering the thriving economic relationship between Texas and India. The day's activities showcased Governor Abbott's commitment to fostering collaboration, particularly in the technology and energy sectors and building upon the robust ties that have been cultivated over the years.
Texas-India Trade Partnership Roundtable:
Governor Abbott commenced the day by participating in a Texas-India trade partnership roundtable discussion hosted by the U.S.-India Strategic Partnership Forum (USISPF). In dialogue with USISPF of India Managing Director Nivedita Mehra, Governor Abbott explored avenues to strengthen economic ties and expand the strategic partnership between Texas and India. Emphasizing Texas as the premier destination for company expansion and relocations, the Governor highlighted the state's business-friendly climate and world-class workforce. Additionally, he underscored Texas' pivotal role as a national leader in U.S. energy production, contributing nearly one-fourth of the country's domestically produced energy.
HCLTech Headquarters Meeting:
Following the roundtable, Governor Abbott and the Texas delegation visited HCLTech's global headquarters in Noida. In discussions with HCLTech Chief Operating Officer Rahul Singh and other executives, the focus was on ways the company can further expand its footprint in Texas. Governor Abbott championed Texas' technology industry, citing its position as the top tech and semiconductor exporting state in the nation. The meeting delved into HCLTech's current operations in Frisco, Texas, and explored opportunities for future growth and expansion within the state.
Meeting with Minister of Commerce and Industry:
Later in the afternoon, Governor Abbott met with the Minister of Commerce and Industry of India, Piyush Goyal. The discussions centered around the future trajectory of the economic partnership between Texas and India. Plans were unveiled to encourage investment in information and communication technology and promote engineering and research at institutes of higher learning in Texas. Governor Abbott reiterated Texas' status as the most popular destination for Indian foreign direct investment and job creation in the United States.
Reception with Young Business Leaders:
In the evening, Governor Abbott and the Texas delegation attended a reception with young business leaders from diverse industries in India, including energy, technology, and finance. The Governor extolled Texas as the land of freedom and opportunity, emphasizing the state's young, growing, and well-educated workforce as a crucial factor in its continued economic success. He also highlighted Texas' reputation as a hub for innovation and business growth, citing Tier 1 research universities, robust infrastructure, and low taxes as key incentives for attracting new companies and driving innovation.
Economic Impact and Trade Statistics:
India currently ranks ninth among all nations for the number of foreign direct investment projects in Texas. Texas, according to Indian industry estimates, is the most preferred destination for Indian FDI capital investment and job creation in the United States. Over the past decade, Indian companies have invested $1.4 billion in capital through 59 projects in Texas, resulting in the creation of more than 10,300 jobs. In 2022, Texas' total trade with India reached $20.4 billion, making India the state's 11th-largest total trade partner. Texas exports to India amounted to $13.3 billion, representing 28 percent of all U.S. exports to India.
Sponsorship and Economic Development Agenda:
The economic development mission is sponsored and funded by the Texas Economic Development Corporation, an independently funded and operated 501(c)(3) nonprofit organization responsible for marketing and promoting Texas as a premier business location. Together with the Governor's Economic Development & Tourism Office, these organizations form the cornerstone of Governor Abbott's economic development agenda to shape the Texas of tomorrow.
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