An interactive meeting on ‘Strengthening Indiana-India Economic Relations’ was organised in honour of Mr. Jim Schellinger, Secretary of Commerce for the State of Indiana at World Trade Centre Mumbai. Mr. Schellinger said, “Indiana is exploring partnership with India in six major sectors namely, advanced manufacturing, aerospace & defence, agro-science, life science, logistics and information technology. Indiana has the second lowest cost of living in USA. Governor of Indiana Mr. Eric Holcomb will visit India in 2019 to strengthen our relationship further. We are exploring Sister-State partnership agreement with Maharashtra, on the lines of the one we have entered into with Karnataka”.
Speaking about the advantages of Indiana, Mr. Schellinger pointed out, “The state of Indiana had stable and predictable business environment with minimal regulations and low tax rates. Nine Indian companies have invested in Indiana so far. Innovation and entrepreneurship are the heart of our economy and Government of Indiana is planning to invest USD 1 billion on this area. Indiana has a USD 31 billion agro-science industry and USD 62 billion life science sector. There is lot of potential to work in cutting-edge technologies such as artificial intelligence, internet of things, etc. 85% of the manufacturing sector in Indiana is adopting digitization.”
For the first time in Indiana, the Governor has introduced 20-year programme to improve infrastructure. Indiana is at the crossroads of America as many inter-state highways pass through this state, it is home to the 2nd largest FedEx air hub worldwide. Indiana provides the only statewide port system with direct waterway access to two U.S. coasts.
Mr. Vijay Kalantri, Vice Chairman, MVIRDC World Trade Centre Mumbai, said, “Today, bilateral trade volume between India and USA is USD 125 billion, which can be doubled in the next three years if tariff barriers are removed and policy becomes conducive”.
The meeting was also attended by Mr. Jake Miller, Secretary’s Director of Field Operations, Indiana Economic Development Corporation and Mr. Raju Chinthala, Ph.D, Founder & President, Indiana India Business Council.
From (L-R): Mr. Jim Schellinger, Mr. Vijay Kalantri, Mr. Raju Chinthala, Ms. Rupa Naik and Mr. Jake Miller.
Mr. Jim Schellinger being felicitated by Mr. Vijay Kalantri.