Minnesota Governor Announces Trade Mission to India in October, 2007
31 January 2007
Saint Paul, MN: Governor Tim Pawlenty has announced that he will lead a delegation of Minnesota business executives on a trade mission to India in October to explore trade and investment opportunities and make inroads with key Indian and U.S. business organizations.
“Strong economic growth is unleashing a wave of demand in India. From consumer goods to professional services, high-tech to health care, machinery to processed foods – the prospects are abundant,” Governor Pawlenty said. “It’s important that we make these connections firsthand.”
The 30-member delegation will travel to New Delhi, Bangalore, and Mumbai October 20-27, 2007 for a series of market and industry presentations, networking events, roundtable discussions and one-on-one business events with potential Indian customers, distributors and partners.
India’s gross domestic product grew an average 7 percent per year between 1994 and 2004 and recently has tracked at nearly 9 percent. U.S. manufactured exports to India reached $6.8 billion in 2005, an increase of 111 percent since 2000. Minnesota’s manufactured exports to India grew 208 percent to $85 million over the same period.
Promising sectors include computers and electronics, machinery, medical products, biotechnology, and food processing. In addition, Indian companies have ambitious plans for expanding and diversifying manufacturing activities, particularly in the automobile, auto parts, metals, chemicals, pharmaceuticals and electronics industries, creating opportunities for Minnesota suppliers.
At a press conference announcing the trade mission, Governor Pawlenty acknowledged the role that the local Asian Indian community played in the development of the trade mission to India. “I want to acknowledge local Asian Indian leaders present, my Chief Information Officer Gopal Khanna, State Senator Satveer Chaudhary, leading entrepreneur Mahendra Nath and Professsor Bruce Corrie of Concordia University,” Governor Pawlenty said.
The local Asian Indian community applauded the decision to lead a trade mission to India. A group of Asian Indian leaders and community members proposed a plan for a trade mission to India at the request of the Governor two years ago.
Minnesota is among the top ten states in the US in the rate of growth of exports to India. Between 2000 and 2005 exports grew over 200 percent.
Minnesota Public Radio story: http://minnesota.publicradio.org/display/web/2007/01/30/india/
TV: http://www.kare11.com/news/news_article.aspx?storyid=240655
Official Package on the Mission: www.deed.state.mn.us
Contributions of Asian Indians to MN; http://ethnictrends.info/Market%20Research.html
Minnesota Exports to India: http://ethnictrends.info/Market%20Research.html
For more information relating to the Asian Indian community please contact Dr. Bruce Corrie, Professor of Economics at Concordia University at 651 641 8226 or corrie@csp.edu.
For more information on the Governor Pawlenty’s Trade Mission please contact the individuals below:
Contact Tony Lorusso, Executive Director, Minnesota Trade Office
Phone: 651-297-4657 Fax: 651-296-3555
E-mail: tony.lorusso@state.mn.us
OR
Contact Jodi Boerner, International Trade Representative, Minnesota Trade Office
Phone: 651-297-4646 Fax: 651-296-3555
E-mail: jodi.boerner@state.mn.us
