Joel Reifman, the United States of America's Consul-General at Hyderabad. (DC Image)
Business ties are a key pillar of the US-India relationship. In Hyderabad, US and Indian firms are working closely together in sectors such as pharmaceuticals, aerospace, and information technology. In fact, US companies have invested directly $5 billion in Telangana alone since 2014. While we welcome US investment in India, we actively seek to build Indian investment ties in the United States. That's why I'd like to tell you about this year's SelectUSA Investment Summit.
The SelectUSA Invest-ment Summit is the premier investment conference in the United States, and it draws thousands of investors from around the globe to explore the world's largest investment market. Organised by the Department of Commerce's SelectUSA office, it provides a unique opportunity for investors from around the globe to make real connections and gather valuable information to make educated investment decisions. The Summit highlights the immense investment potential in the United States. It offers paths for investors to connect directly with economic development organisations from all US states and territories to make real deals happen. This year, the US Embassy in India is organising a large Indian business delegation to the SelectUSA Investment Summit, which will be held from June 26-29 at the Gaylord National Resort and Convention Center in National Harbor, just outside of Washington, D.C.
The United States is the largest consumer market in the world. If you have a company in Telangana, Andhra Pradesh, or Odisha and you're looking to grow globally, then you will find no shortage of opportunities in the US. With an annual GDP of $20 trillion and a population of more than 325 million, the US offers unmatched diversity, a thriving culture of innovation, excellent rule of law, intellectual property rights protection, and one of the most highly skilled workforces in the world. Its business-friendly environment, stable and transparent regulatory framework, and advanced level of technology, have attracted billions of dollars of Indian investment, reaching $12.7 billion in 2020. That sum includes some of India's largest companies from a wide swath of industries, encompassing healthcare and pharmaceuticals, technology, infrastructure, textiles, services, and many other sectors.
Since its inception in 2011, SelectUSA has assisted thousands of international clients and facilitated more than $102 billion in investments globally, supporting hundreds of thousands of jobs across the United States and around the world. More than 400 investors from India have participated in previous summits.
This year's Investment Summit provides exciting opportunities for thousands of investors from over 80 global markets and representatives of hundreds of economic development organizations (EDOs) across the nation to engage and interact. At the Summit, participants will be able to:
Explore interactive exhibitor showcases featuring EDOs, service providers, industry experts, and international tech startups.
Network with 50+ states and territories, companies from 80+ markets, speakers, government officials and more.
Learn from policy and industry experts in 100+ sessions.
Some special programmes at this year's Summit include:
SelectUSA Tech, which will connect early-stage and startup technology companies to prospects.
The Select Global Women in Tech Mentor-ship Network, connecting women founders of early-stage and startup tech companies to resources.
Sessions to bring together stakeholders in clean energy and related sectors such as advanced batteries, energy storage, nuclear energy, offshore wind, and semiconductors.
More information about the Summit can be found at:www.selectusasummit.us. Inquiries can be sent to Andrew.Edlefsen @trade.gov.
(The writer is US Consul General, Hyderabad)