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Indian business investors wooed by Maryland
Daily Record Business Writer//April 24, 2012
Indian business investors wooed by Maryland
Indian companies that could do business in the state met in Baltimore Tuesday for an event Gov. Martin O’Malley said was meant to show those companies that the “gateway” to business in the U.S. is Maryland.
Representatives of Indian businesses in the fields of pharmaceuticals, technology, cyber security, life sciences and clean energy attended the first Maryland India Business Forum at the World Trade Center. About 60 business leaders from India and Maryland were present.
O’Malley led a trade mission to India last fall, when state officials signed agreements to boost the imports and exports between the United States and India. Additionally, about $60 million in business deals were agreed upon during the trip.
“Today’s forum is about building on the important work that Maryland began during our trade mission, which has helped open new doors for our businesses, increased trade and investment and strengthened cultural relationships,” O’Malley said Tuesday in a statement.
Two Indian companies — Jasco Nutri Foods and Jubilant Life Sciences — pledged in December to invest a combined $30 million into expanding their operations in Maryland, but there is no timetable for those investments to take place.
Jubilant has a drug manufacturing facility in Salisbury, but wants to triple its size. Jasco, a manufacturer and exporter of organic food, wants to open a facility in Maryland that could create 100 jobs.
