An Economic Mission: Bringing Indian Business to New Jersey

Starting tomorrow, I will be joining a government delegation led by New Jersey Governor Phil Murphy for a seven-day economic mission trip to India. In seven days we will visit six cities: Delhi, Agra, Hyderabad, Mumbai, Ahmedabad, and Gandhinagar, with the goal to strengthen economic ties by meeting with key government and industry leaders, including representatives of the life sciences, technology, clean energy, film and media, and manufacturing sectors. 

As the Chair of the Commission on Science, Innovation, and Technology for the state of New Jersey, I’m honored to be able to help cultivate international investment opportunities and maximize the potential of the economic relationship between the two. New Jersey is a leader in the life sciences, medical technology, clean energy and manufacturing and India is one of New Jersey’s largest trade and investment partners, and it’s second largest foreign direct investor. Over 50 percent of India’s foreign direct investment in the Northeast comes to New Jersey, and Indian-Americans represent the largest group of foreign-born residents. As an entrepreneur and a New Jersey state resident for over 20 years, this initiative is especially close to me. India’s GDP in third in terms of purchasing power and this historic trip by this delegation is an important step forward that will pave the way for new business partnerships between New Jersey and India and bring more investment and jobs to the Garden State.

I started InRhythm out of a one bedroom apartment, then opened my first office in Hoboken. New Jersey has given me a tremendous platform to grow, with 20 of the Fortune 500 headquartered in the state and 12 of the top pharmaceutical companies in the world. It ranks #6 in the country for globalization, #2 for direct foreign investment, and #4 in workforce development. It is a state booming with talent.

Many people don’t know this, but New Jersey is, in some regard, considered the original silicon valley. In 1876, Thomas Edison established his first laboratory in Menlo Park, New Jersey, where he developed the light bulb, the phonograph and the movie camera. He also was a pioneer of the modern lab — teams of people working together, sharing ideas and perfecting devices. In the century after Edison, New Jersey became the place to set up shop if you wanted to invent, and in 1967 Bell Laboratories headquarters was officially relocated to New Jersey, where the transistor was invented. 

It is a state rich with history and technology, and as NJEDA Chief Executive Officer, Tim Sullivan stated in a recent interview, “In our increasingly interconnected world, driving international trade and investment is critical to making New Jersey a global competitor and building a foundation for long-term, sustainable economic growth. ”

I look forward to visiting India and help present New Jersey as a leading investment choice for Indian companies and strengthen our economic ties.