Austin News

Governor Greg Abbott of Texas has announced that he will be leading an economic development mission to India. The mission, organized by the Governor's Economic Development & Tourism Office and the Texas Economic Development Corporation, aims to promote Texas' strong economy and encourage trade, job creation, and investment by Indian companies in the state. This will be Governor Abbott's second trip to India.

In a statement, Governor Abbott highlighted the opportunities that Texas offers for business expansion and investment. He stated, "Texas is America's—and the world's—premier economic destination because of our dedication to cultivating a business-friendly environment where companies have the freedom and resources they need to thrive." The Governor expressed his excitement about expanding critical industry and trade partnerships with India and sharing the success and ingenuity of Texas with the people of India.

The economic development mission will include meetings with company executives, business leaders, and government officials in India. The delegation will comprise of First Lady Cecilia Abbott, Secretary of State Jane Nelson, and other officials from the Governor's Economic Development & Tourism Office and the Texas Economic Development Corporation. They will be joined by representatives from over 16 companies, communities, and economic development organizations across Texas.

India is a significant partner for Texas in terms of foreign direct investment (FDI) projects. According to Indian industry estimates, Texas is the most popular destination for Indian FDI capital investment and jobs created in the U.S. Over the last decade, Indian companies have invested $1.4 billion in capital through 59 projects in Texas, resulting in the creation of more than 10,300 jobs. In 2022, Texas' total trade with India amounted to $20.4 billion, with Texas exports accounting for 28% of all U.S. exports to India.

The economic development mission to India is sponsored and funded by the Texas Economic Development Corporation, a nonprofit organization responsible for marketing and promoting Texas as a premier business location. This mission aligns with Governor Abbott's economic development agenda to build a prosperous future for Texas.

This mission to India demonstrates Texas' commitment to fostering international partnerships and attracting foreign investment. Governor Abbott's leadership and engagement with Indian business leaders and government officials will further strengthen the economic ties between India and Texas, benefiting both economies.