Texas Delegation Visits India to Boost Economic Ties and Trade

A delegation from the US state of Texas, led by Governor Greg Abbott, is currently on a 9-day economic development tour of India. The delegation, which arrived in India on January 19, will be meeting with key Indian officials, financial leaders, company executives, and business leaders to promote Texas' economy and enhance trade relations between Indian companies and Texas.

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Promoting Texas' Economic Success

Governor Abbott expressed his enthusiasm for the trip, highlighting the potential for expanding critical industry and trade partnerships with India. He aims to share the story of Texas' long-standing economic success and ingenuity with the people of India and explore opportunities to strengthen cultural and economic ties worldwide.

Texas as a Popular Destination for Indian FDI

India ranks ninth 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.

Growing Trade Relations between Texas and India

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.