Kentucky Gov. Steve Beshear departed for India today for a seven-day economic development trip. The trip, which will be the first to India by a sitting Kentucky governor, "is intended to showcase the unlimited opportunities Kentucky offers to Indian investors and to connect with key Indian and U.S. business organizations," according to the governor's office. "Exploring new trade opportunities in fast-emerging international markets such as India is an important element of expanding Kentucky companies and growing jobs from within," Beshear said. "Kentucky is a prime location for Indian companies seeking U.S. locations for future investment. I am looking forward to opening the door to future collaborations between Kentucky and India." First Lady Jane Beshear and Economic Development Secretary Larry Hayes will accompany the governor. The Kentucky delegation will travel to New Delhi and Mumbai Oct. 15-21, where they will meet with key government officials, including former India President A.P.J. Abdul Kalam, and major business organizations such as the Federation of Indian Chambers of Commerce and Industry and the National Association of Software and Service Companies (NASSCOM). The governor also will participate in a roundtable discussion with several U.S. companies currently operating in India, as well as meet individually with companies actively considering future investments in the United States. NASSCOM, a nonprofit organization that facilitates business and trade in software and services and encourages advancement of research in software technology, is sponsoring the trip. Exports to India on the Rise The governor's office noted that U.S. exports to India reached $16.4 billion in 2009, an increase of more than 169% since 2004. Kentucky's exports to India grew more than 252% to $96.5 million over the same period. There are six Indian-owned companies in Kentucky, employing more than 1,500 people, according to the governor's office. The most recent investment was Kentucky Copper, a subsidiary of Chandra Proteco, which located in Morgantown, Ky. The company manufactures products used in power transformers, energy transmission and distribution applications, as well as high-speed trains. Beshear will meet with executives from Chandra Proteco during the visit. "Indian companies are aggressively seeking to expand and diversify manufacturing capabilities and Kentucky represents an ideal location, workforce and overall business climate to support their growth," Beshear said. "It is my goal to showcase the many business advantages Kentucky has to offer and to relay that Kentucky welcomes trade and investment opportunities."
|Kentucky Gov. Steve |