This week, Governor Jan Brewer will lead a delegation to India to promote Arizona’s competitive business climate, expand investment opportunities and foster a long-term relationship with one of our state’s emerging and valued trading partners.
In February, Governor Brewer was among nine state governors to address the India Business Forum, in Washington, D.C., and attest to the value of Indian investment to a state’s economy. India is recognized as the world’s second-fastest growing economy, and is projected to take the top spot by 2015. India also is the most rapidly-growing market for United States exporters.
“Our state economy has come so far over the past four years, thanks to the pro-growth climate we’ve worked hard to create. To remain competitive and ensure Arizona’s economic vitality, we must forge and secure strong partnerships beyond Arizona and the United States,” said Governor Brewer. “Arizona deeply values its relationship with India, and recognizes the potential for meaningful and mutual business investment. It’s essential that Arizona capitalize on the opportunity.”
Joined by the Arizona Commerce Authority, the Governor will meet with prominent figures in Indian government, as well as global leaders in software development, cyber security, data centers, aerospace, infrastructure development and renewable energy. Like Arizona, India’s economic future is focused on continued growth in high-tech sectors, particularly in aerospace and defense and renewable energy. Both recognize a shared opportunity to expand and thrive in these and other increasingly-critical industries.
“With exports from Arizona to India recently up 78 percent, India represents an emerging market and area of significant opportunity,” said Sandra Watson, President and CEO, Arizona Commerce Authority. “Arizona's key industry sector strengths in aerospace and defense, technology, bioscience and advanced manufacturing are well aligned with India’s growing domestic needs. This mission is an important part of cultivating trade and investment opportunities for Arizona and showcasing the state’s pro-business climate to companies in India looking for expansion in the U.S.”
In addition to exploring investment and expansion opportunities, the Governor also will focus on promoting Arizona’s number one export-oriented industry: tourism. In 2012, more than 38 million global visitors traveled to Arizona, spending $19.3 billion throughout the state. Daily, that equates to approximately $53 million in contributions to the state economy.
“The tourism industry is an integral producer of jobs and development throughout Arizona,” said Governor Brewer. “These missions provide us a valuable opportunity to showcase Arizona to international markets. I look forward to inviting Indian businesses and tourists to see firsthand why the Grand Canyon State continues to be a world-class travel destination.”