Maryland governor leads trade delegation to India

O’Malley

   Maryland Gov. Martin O’Malley is scheduled to arrive in India Monday with representatives from 43 companies, educators and state officials on a six-day trade mission to Hyderabad, Mumbai and New Delhi.
   Prior to arriving in India O’Malley and Christian Johansson, secretary of business and economic development, will make a brief stop in Doha, Qatar, to discuss foreign direct investment opportunities in Maryland.
   The governor will work to convince Indian companies in areas such as life sciences, cyber security, defense and information technology to consider establishing facilities in Maryland and will sign several memorandums of understanding to increase two-way trade between Maryland and India, according to a news release from his office. He plans to speak before the Confederation of Indian Industries, the Federation of Indian Chambers of Commerce and Industry, and the All India Biotech Association.
   Among the companies participating in the trade mission is Baltimore-based Premier Rides, which manufacturers amusement park rides and sees India’s rising middle class as an opportunity to attact new export customers.
   India is Maryland’s 12th largest export market with $233 million in goods and services. The state imported more than $465 million from India last year. As of September, Maryland exports to India grew 18 percent from the same period last year to more than $192 million. During the first three quarters, the Port of Baltimore handled $341 million in trade to and from India, up 49 percent from the same time frame in 2010.
   Six Indian companies are located in Maryland, which also has had a trade office in India since 2009.
   In May, O’Malley led an economic development mission to Asia that led to the largest investment of a Chinese company in Maryland and more than $85 million in direct foreign investment, according to the news release.