Maryland netted $60 mn deals with India
December 13th, 2011 - 11:24 am ICT by IANSWashington, Dec 13 (IANS) A six-day trade mission to India netted a total of $60 million in new business deals for Maryland and deals worth millions more are in the works, according to state Governor Martin O’Malley.
“This mission has opened new doors for Maryland to create jobs, bolster trade and investment, and strengthen existing business and cultural relationships,” he told reporters Monday.
Two Indian companies plan investments in Maryland state, bordering Washington, and eight Maryland businesses inked deals with Indian partners during the trip aimed at selling the state as the best place for Indian companies to get a foothold in the American market.
More than 100 business leaders, educators and state officials participated in the trip that included stops in Hyderabad, Mumbai and New Delhi.
“Together, with our entire delegation, we are sending a strong message to India’s top business organizations and companies that Maryland is the gateway to doing business in the US,” O’Malley said.
Jasco Nutri Foods, an India-based manufacturer and exporter of organic food products, is planning to invest $10 million in opening a facility in Bowie, he said.
Jubilant Life Sciences, which already has a drug manufacturing facility in Salisbury, also announced plans to spend $20 million to triple its Eastern Shore warehouse space and add new jobs
During the trip, Maryland signed an agreement with the Federation of Indian Chambers of Commerce and Industry to create an India-Maryland Centre in Maryland to boost bilateral trade. The federation will lead a delegation to Maryland in April.
Another agreement was sugned with the US India Importers Council committing Maryland and India to boost imports and exports. The state also agreed to explore sister-state relationships with the Indian states of Andhra Pradesh and Maharastra.
The University of Maryland College Park’s delegation signed agreements with Indian universities, including one with the Indian Institute of Technology-Bombay that enables faculty and student exchanges and allows for joint competition for research grants.
(Arun Kumar can be contacted at arun.kumar@ians.in)
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