India ranks 9th among all nations for the number of foreign direct investment (FDI) projects in Texas
Our Bureau
Houston, TX
A delegation from the US state of Texas, is visiting India on a 9-day-long economic development tour. Led by Governor Greg Abbot, the delegation would meet several key Indian officials and financial leaders.
From January 19-28, the delegation will meet with company executives, business leaders, and government officials to promote Texas’ mighty economy and further intensify the continued trade between several Indian companies and Texas.
“There is great potential for us to expand critical industry and trade partnerships with India. I look forward to leading this economic development mission as we share the story and spirit of Texas’ longtime economic success and ingenuity with the people of India and I look forward to the opportunities this trip brings to strengthen our cultural and economic ties worldwide,” Abbott said in a statement.
India ranks 9th among all nations for the number of foreign direct investment (FDI) projects in Texas. According to Indian industry estimates, Texas is the most preferred destination for Indian FDI capital investment and job creation in the US. Over the past decade, Indian companies have invested USD 1.4 billion in capital investment through 59 projects in Texas, resulting in the creation of over 10,300 jobs.
In 2022, Texas’ total trade with India reached USD 20.4 billion, making India the state’s 11th-largest total trade partner. Texas exports to India accounted for USD 13.3 billion, representing 28% of all US exports to India. Governor Abbott emphasized the immense opportunities for business expansion and investment in Texas, given its status as the eighth-largest economy in the world and its highly skilled and growing workforce.
The Texas delegation’s visit to India underscores the state’s commitment to fostering stronger economic ties with India. By promoting Texas’ economic strengths and exploring potential collaborations, the delegation aims to further enhance trade relations and create mutually beneficial partnerships between Indian companies and Texas.
