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New Jersey to send delegation to India to boost economic ties

Washington, PTI | Updated : 18 July 2019, 06:41 AM
Moreover, over 50 per cent of India’s foreign direct investment in the Northeast comes to New Jersey. (File Photo)
Moreover, over 50 per cent of India’s foreign direct investment in the Northeast comes to New Jersey. (File Photo)

US State of New Jersey, which has one of the largest concentrations of Indian-Americans, will send a high-powered delegation to India in September to strengthen its economic ties with the country, Governor Phil Murphy has announced. The focus of the mission that will visit Delhi, Agra, Hyderabad, Mumbai, Ahmedabad and Gandhinagar is to strengthen economic ties with one of New Jersey’s largest trade and investment partners, cultivate international investment opportunities here, and deepen cultural and educational ties between New Jersey and India, according to a statement.

“As India’s role as one of our key partners continues to expand, we want to make sure we maximise the potential of our economic relationship,” said New Jersey Governor Murphy.

“I am excited to make the case for New Jersey as a leading investment choice for Indian companies, creating lasting partnerships and good jobs for our residents. We are proud to be the home of one of America’s most deeply-rooted Indian-American communities, and growing our economic partnership will only strengthen those tie,” he said.

The Economic Mission led by Murphy will include First Lady Tammy Murphy, Choose New Jersey President and CEO Jose Lozano, New Jersey Economic Development Authority (NJEDA) CEO Tim Sullivan, and other senior administration and Choose New Jersey officials.

Among his various activities and public events in India will include meetings with key government and industry leaders, including representatives of the life sciences, technology, clean energy, film and media, and manufacturing sectors, as well as company visits and announcements.

New Jersey maintains very close ties with India culturally and economically, as India is New Jersey’s second largest foreign direct investor and Indian-Americans represent the largest group of foreign-born residents in the northeastern State.

Moreover, over 50 per cent of India’s foreign direct investment in the Northeast comes to New Jersey.

“We are thrilled to be part of Governor Murphy’s economic mission to India in September,” said Jose Lozano, president & CEO of Choose New Jersey.

“New Jersey is a leader in the life sciences, medical technology, clean energy and manufacturing, and we are the best place for international companies to do business. We look forward to strengthening our close cultural and economic ties with our partners in India during this trip and attracting more businesses to invest in the Garden State,” he said.

“As the country with the third largest GDP in terms of purchasing power, India is already a formidable player in the international economy and the country’s influence is only continuing to grow,” said NJEDA Chief Executive Officer Tim Sullivan.

“Governor Murphy’s trip is an important step forward that will pave the way for new business partnerships between New Jersey and India and bring more investment and jobs to the Garden State,” he said.

First Published: Thursday, July 18, 2019 06:41 AM
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