Baltimore (Maryland):Encouraged by the nearly USD 60 million worth of business deals during his India trip last year, Maryland Governor Martin O'Malley has urged a visiting delegation of top corporate leaders of the country to invest in his state, which he said is their gateway to America. (Agencies)
"Maryland and India share many industry strengths and a focus on supporting education.
"We want to send a strong message to Indian businesses that given our abundance of federal labs and dominance in life sciences, cyber-security and clean energy, Maryland is the gateway to doing businesses in the US," O'Malley told an Indian business delegation in Baltimore here on Tuesday.
The Indian business delegation is led by Rajya Vardhan Kanoria, president of Federation of Indian Chambers of Commerce and Industry (FICCI).
Besides Baltimore,the delegation would be travelling to Washington DC and the Silicon Valley.
"Today's Forum is about building on the important work that Maryland began during our trade mission, which has helped open new doors for our businesses, increased trade and investment and strengthened cultural relationships," O'Malley said in his key note address to the inaugural Maryland-IndiaBusiness Forum meeting.
The Governor said there are 3,000 businesses in Maryland which are owned by Indian-Americans including the largest medical practices.
Maryland's trade with India has increased by more than 70 percent in the last seven years, he said in his address.
Observing that the impact of the global economic recession is still being felt, Kanoria said there are signs of recovery in the United States. The Indian economy is also advancing, he added.
India, he said, offers a great opportunity to the American businesses.
"Trade a1nd economic co-operation are central pillars to expanding India US strategic partnership," Kanoria said.
The Indian investment in Maryland, he said has now touched USD 560 million and there has been eight acquisitions between 2004 and 2009 by Indian companies in Maryland.
Baltimore (Maryland):Encouraged by the nearly USD 60 million worth of business deals during his India trip last year, Maryland Governor Martin O'Malley has urged a visiting delegation of top corporate leaders of the country to invest in his state, which he said is their gateway to America.