The Midwest Welcomes Investment From South Asia
- September 06, 2022
India continues to be an important business partner both for the U.S. and Missouri. High foreign exchange reserves, sustained direct investment, and rising export earnings all suggest there will be enough strength in India’s economy for it to continue growing in the years ahead.
In 2020, the International Trade Administration placed India as the 12th largest trading partner to the U.S. By contrast, the U.S. is India’s largest trading partner, with exported goods to the U.S. worth $77 billion.
The signs of increasing business between both countries are encouraging. Earlier this year, the U.S.-India Trade Policy Forum made significant progress in developing plans for more trade and reducing barriers, including trade in agriculture. And in May, around the Quad meeting in Tokyo, an Investment Incentive Agreement was signed between both countries.
It’s clear at a national level there’s huge potential for more business with India. And Missouri wants to see its relationship with India grow, too.
Strategically located in the center of North America, with an extensive network of airports and railroads, Missouri enables businesses to enter new markets and expand their customer base.
An abundance of natural resources and a population that welcomes companies and organizations from India make Missouri an ideal partner for growing businesses.
Pro-business Environment for Indian Companies
Missouri has always regarded India as an important partner and has a successful track record in supporting Indian companies’ growth.
In 2021, Missouri’s imports from India totaled $671 million, led by chemicals, fabricated metal products, textile mill products, electrical equipment, appliances and components, and other industries. There are currently nearly a dozen Indian companies in the state, including Cypress Industries, Piramal Glass, Tech Mahindra, and Wipro. Additionally, the state is home to numerous Indian cultural organizations.
As Indian companies continue to choose Missouri, the Show-Me State will continue to provide the best tools, resources, and support for them to flourish.