"As we look to the future, Texas and India will continue to loom large as we strengthen the unique economic bond between our two people.”
– Governor Greg Abbott
Texas Insider Report: AUSTIN, Texas – Governor Greg Abbott yesterday held another series of meetings with business leaders and government officials to discuss the growing technology industry in Texas and attended an afternoon reception with young business leaders in New Delhi, India. 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 second day of the New Delhi stop in the economic development mission led by Governor Abbott.
“Texas and India are economic powerhouses leading the world with technological advancements and innovation,” said Governor Abbott. “As a primary global destination for foreign direct investments, India has invested billions in Texas, providing quality jobs for Texans. Communities and Texans across the state benefit from the investments of Indian companies based in Texas like Wipro, Tata Group, Infosys Technologies, HCLTech, and Reliance Industries, including a recent announcement by Waaree. As we look to the future, Texas and India will continue to loom large as we strengthen the unique economic bond between our two people.”
Photos and video of Governor Abbott and the Texas delegation’s visit to India is available here.
New Delhi Day Two Mission Recap:
Governor Abbott kicked off the day by participating in a Texas-India trade partnership roundtable discussion hosted by the U.S.-India Strategic Partnership Forum (USISPF). During the roundtable with USISPF of India Managing Director Nivedita Mehra, the Governor discussed ways Texas can continue to strengthen its economic ties by expanding the strategic partnership between Texas and India. The Governor outlined Texas’ position as the premier destination for company expansion and relocations due to its business-friendly climate and world-class workforce. Governor Abbott also highlighted Texas’ position as a national leader in U.S. energy production, noting that the state provides nearly one-fourth of the country’s domestically produced energy.
Governor Abbott and the Texas delegation then traveled to HCLTech global headquarters in Noida to meet with HCLTech Chief Operating Officer Rahul Singh and other company executives to discuss ways the company can continue to expand its presence in the state. During the meeting, the Governor championed Texas’ technology industry, noting that Texas is the top tech and semiconductor exporting state in the nation. Governor Abbott and HCLTech leaders then discussed their current operations in Frisco, Texas, as well as opportunities for further growth and expansion in the state.
Later in the afternoon, the Governor met with the Minister of Commerce and Industry of India Piyush Goyal to build upon the already strong economic relationship between Texas and India. Governor Abbott and Minister Goyal discussed the future of Texas’ economic partnership with India, including plans to encourage investment in information and communication technology and promote engineering and research at institutes of higher learning. The Governor also touted Texas’ position as the most popular destination for Indian foreign direct investment and jobs created in the nation according to Indian industry estimates.
In the evening, Governor Abbott and the Texas delegation attended a reception with young business leaders from a diverse set of industries in India, including energy, technology, and finance. During the reception, the Governor highlighted Texas as the land of freedom and opportunity, noting that the young, growing, and well-educated workforce is a key factor in the state’s continued economic success. The Governor also noted Texas’ reputation for being a hub for innovation and business growth, mentioning its Tier 1 research universities, robust infrastructure, and low taxes as critical incentives for attracting new companies and driving innovation.
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.
