January 29, 2024

Governor Abbott Champions Texas-India Economic Partnership At 7th India-U.S. Forum In New Delhi

January 27, 2024 | Austin, Texas

Governor Greg Abbott today championed the strong Texas-India economic partnership during the keynote address at the 7th India-U.S. Forum hosted by the Ministry of External Affairs and Ananta Centre in New Delhi, India.

“Texas and India are two places—and two people—who both share an independent streak and a desire to make our mark on the world,” said Governor Abbott. “Each of us sits in a critical location—India, with China and Russia on their doorsteps, and Texas at the nexus of the United States and Latin America. We share the common values of family, faith, compassion, and hard work. As we look towards the future, we must ensure that the next generation of leaders in Texas and India will be the innovators who solve the world’s foremost crises and that embracing the values we share leads to liberty and prosperity unmatched throughout the entire world.”

Photos and video of Governor Abbott and the Texas delegation’s visit to India is available here.

During the keynote address to business and government leaders, the Governor championed the booming Texas economy and highlighted the growing trade between Texas and India. The Governor discussed the historic capital investment by Indian companies, mentioning that over the last decade they have invested over $1.4 billion in capital through 59 projects, creating more than 10,300 good-paying jobs in Texas. Governor Abbott also noted that cities across the state benefit from capital investments made by Indian companies. Additionally, the Governor touted that over 542,000 Indian Americans call Texas home.

Earlier in the day, Governor Abbott met with the External Affairs Minister of India Dr. Subrahmanyam Jaishankar to discuss ways Texas and India can continue to strengthen their economic partnership. During the meeting, Governor Abbott touted Texas’ robust energy industry, noting that an all-of-the above energy strategy is critical for Texas is to remain the energy capital of the world. Governor Abbott and Minister Jaishankar also explored ways to grow India’s semiconductor industry, with the Governor championing Texas as the top state for semiconductor manufacturing in the United States. Additionally, the Governor pointed to the state’s robust aerospace industry, with organizations and companies like NASA, Space X, and Blue Origin having offices and facilities in Texas, and discussed ways Texas and India can collaborate on the next frontier.

Joined by First Lady Cecilia Abbott, Secretary of State Jane Nelson, the Governor’s Economic Development & Tourism Office Executive Director Adriana Cruz, Texas Economic Development Corporation Vice Chair Arun Agarwal, and Texas Economic Development Corporation President & CEO Aaron Demerson, this is the last stop in the economic development mission led by Governor Abbott.

India is ninth among all nations for the number of foreign direct investment projects in Texas. According to Indian industry estimates, Texas is the most popular destination for Indian FDI capital investment and jobs created in the U.S.  In the last decade, companies from India have invested $1.4 billion in capital investment through 59 projects in Texas, creating more than 10,300 jobs. In 2022, Texas’ total trade with India totaled $20.4 billion, making India the state’s 11th-largest total trade partner. That same year, Texas exports to India totaled $13.3 billion. Texas exports account for 28 percent of all U.S. exports to India.

The trip is sponsored and paid for 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. Along with the Governor’s Economic Development & Tourism Office, these two organizations make up the cornerstone of Governor Abbott’s economic development agenda to build the Texas of tomorrow.