It’s no secret that the Texas economy is booming under Governor Abbott’s leadership and thriving in our state’s business-friendly climate. Hundreds of businesses have relocated to Texas during Governor Abbott’s first term, February marked the 20th consecutive month of job growth in the Lone Star State, and unemployment is at record lows.
Governor Abbott is committed to growing our economy even more. One way to encourage further economic growth in Texas is through foreign direct investment. That’s why Governor Abbott is currently on a four city tour of India to meet with CEOs, business executives, and government leaders to discuss promoting business development and increasing trade ties and opportunities and to encourage foreign investment by Indian companies in Texas.
By forging deeper relationships with nations such India, Governor Abbott is working to attract more foreign direct investment to Texas, grow our economy, and create more job opportunities for hardworking Texans.
Texas is currently the second largest exporter of American goods to India and the fourth largest importer of Indian goods in the United States. While in India, Governor Abbott is meeting with companies that are looking expand their operations in Texas and contribute to our booming Texas economy. Cultivating these international relationships is sure to pay big dividends for the Lone Star State, as well as benefit both Texas and India through the exchange of goods.
For example, Governor Abbott met on March 24th with executives of Reliance Industries Limited to discuss increasing oil and liquefied natural gas exports from Texas to India. The energy trade between Texas and India has become increasingly important, and will continue to be a central pillar of trade between these two entities moving forward.
Additionally, on March 25th Governor Abbott met with executives from Mahindra & Mahindra Limited, whose North American headquarters is located in Houston. The company is thriving in Texas because of our state’s business-friendly policies. Governor Abbott met with the executives to discuss ways to strengthen the ties between Texas and Mahindra & Mahindra and to thank the company for its support in the Houston community in the aftermath of Hurricane Harvey.
Governor Abbott also announced two incredible new deals to bring more economic development to Texas. The first of those deals was with JSW Steel (USA) Inc., which announced a $500 million investment to help develop the Texas steel industry and expand its operations in Baytown.
The second deal came from Wipro, one of India’s largest tech companies, which announced plans for a new Texas Technology Center in Plano. Between JSW Steel and Wipro, these investments will combine to create more than 600 new jobs and help develop important sectors of the Texas economy.
Not only is Governor Abbott working to promote economic ties on his trip, but also to strengthen the cultural bonds between Texas and India. The exchange of goods as well as the sharing of similar values like hard work, family, and community will greatly benefit both Texas and India.