Friday, November 25, 2011

Maryland Governor O’Malley Leads Businesses, Educators and Local Officials on Trade Mission to Ind

ANNAPOLIS, MD – More than 100 Maryland business leaders, educators and elected officials will join Governor Martin O’Malley and First Lady Katie O’Malley on a historic six-day economic development and trade mission to India – the first by a sitting Maryland Governor.

The delegation will arrive in India on Monday, November 28 and return Sunday Dec. 4, and will make stops in Hyderabad, Mumbai and New Delhi. Prior to arriving in India, Governor and First Lady O’Malley, along with Maryland Department of Business and Economic Development Secretary Christian S. Johansson and Secretary of State John McDonough, will make a brief stop in Doha, Qatar to discuss foreign direct investment opportunities in Maryland.

“With this historic trade mission, we are strengthening our ties with India, committing to exploring more two-way trade and investment, and positioning Maryland as the gateway to doing business in America,” said Governor Martin O’Malley. “I am confident that, like our successful mission to Asia earlier this year, we will be able to open doors for new investment in Maryland, create jobs, and help our businesses tap into opportunities to provide goods and services to one of the world’s fastest growing economies. To create jobs in Maryland, a modern economy requires modern investments and we should pursue those investments at home and abroad.”

“I am pleased to join the Governor and our Maryland delegation on this trade mission to India,” said First Lady Katie O’Malley. “I am looking forward to visiting with court officials in hopes of creating a judicial partnership with our State, and working to find ways that Maryland can lend a helping hand to some of India’s most vulnerable women and children.”

During the mission, Governor O’Malley will promote Maryland as an ideal location for Indian businesses looking to have a U.S. presence, particularly those in life sciences, cyber security and information technology and aerospace and defense – industries that are strong for both Maryland and India. The Governor is scheduled to meet with several of India’s top companies to discuss potential investment and projects in Maryland, and will address three of India’s largest business organizations – the Confederation of Indian Industries (CII), the Federation of Indian Chambers of Commerce and Industry (FICCI) and the All India Biotech Association. Governor O’Malley will also visit the Indian School of Business and Delhi University and attend a ribbon cutting for Women in Bio Mumbai – the first international chapter of the women life sciences group that started in Maryland a decade ago.

In addition, Governor O’Malley will meet with government officials from Hyderabad, Mumbai and Delhi and sign two Sister State agreements – the first between Maryland and India – which signify friendship, but also commit the two regions to working together on matters of business and industry, culture and arts and education and health. The Governor will also sign of a number of Memorandums of Understanding to increase two-way trade and investment between Maryland and India.

“Representing MedImmune, the Gaithersburg-based global biologics arm of AstraZeneca, I am honored to be joining Governor O’Malley as an ambassador not only for Maryland, but for the life sciences community,” said Bahija Jallal, Ph.D., Executive Vice President of Research & Development at MedImmune. “I hope to be able to showcase the great science originating in Maryland and to discover opportunities for new collaborations and partnerships between the State and India.”

“For Premier Rides, India represents a tantalizing though daunting opportunity to expand the client base for global export of our high tech entertainment attractions,” said delegation member Jim Seay, President of Premier Rides, a Baltimore-based amusement rides manufacturer “The rapidly developing middle class in India is creating export opportunities that were not available even a few years ago. Governor O’Malley’s efforts to open the doors to trade represent a unique opportunity to successfully navigate a very challenging business environment.”

“India is one of the leading growth markets in the world and has an established relationship with the United States,” said delegation member Ken Sanchez, President of Baltimore-based Chesapeake Specialty Products, a leading manufacturer of environmentally friendly metallic abrasive and iron oxide products that reduce waste, minimize emissions, and reduce cost to consumers. “As India grows, its U.S. partners will grow. Indian companies will benefit from U.S. technologies as the U.S. will benefit from the Indian consumption.”

Between 2004 and 2009, Indian companies made eight acquisitions in Maryland, totaling $564 million, which is in addition to more than $100 million that Indian companies invested in Greenfield projects in Maryland. In 2010, India was Maryland’s 12th largest export market with $233 million in goods and services, and was the State’s 13th largest import market, with more than $465 million. As of September, Maryland exports to India were valued at over $192 million, representing an 18 percent increase over the same period in 2010. There are six Indian companies in Maryland, including Sri-Sai Pharmaceuticals in Frederick; Lupin Pharmaceuticals in Baltimore; and Gene Logic in Gaithersburg. In addition, Maryland’s India office also has a U.S. location in the International Incubator at the University of Maryland, College Park to assist local companies open offices in India. In the first nine months of this year, the Port of Baltimore saw $341 million in trade to and from India compared with $229 million from the same time frame in 2010 – a 49 percent increase.

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