IN an effort to strengthen the bilateral trade between State of Illinois, USA, and the Northern states of India a delegation led by Rajinder Bedi, Managing Director, Office of Trade and Investment (OTI), Deptt of Commerce & Economic Opportunity, State of Illinois was in Chandigarh to interact with the business community of the region.
It is felt that both the countries can interchange technology and collaborate in sectors like biotechnology, electric equipment, machine tools, logistics etc.
Mr Bedi invited industry and trade to invest in the State of Illinois saying that Illinois provided an opportunity to spread one’s trade globally. He extended this invitation to the entrepreneurs during a session on “Doing Business in Illinois” at PHD House, jointly organised by PHD Chamber, Ficci and OTI, State of Illinois.
“Think global and not local, to boost trade. It is felt that since the inception of the state if Illinois in 1964, the state has been recognised internationally as a leader in state international economic development. OTI implements a focused industry targeting and forms multiple effective Illinois global partnerships between Illinois and foreign: businesses, trade associations, universities and governments”. said Rajinder Bedi.
Punjab has over 2.04 lakh of small and medium industries and about 600 large scale industries. It leads in the manufacturing of machine and hand tools; printing and paper cutting machinery; auto parts and electrical switch gear. The state also provides more than 75% of the country’s requirement for bicycles, sewing machines, hosiery and sports goods. At par with the highest quality standards in the world, these products have carved a niche for themselves in markets across the globe.
OTI has assisted Illinois firms and organisations on foreign trade missions, foreign investment programs and domestic in-state exporting programs in every region of the State of Illinois; than any other previous administration.
Earlier, while welcoming the guests from the State of Illinois, Vikram Sahgal, Chairman, Chandigarh Committee, PHD Chamber, said. “The hinterland of Chandigarh in neighbouring HP and Haryana has emerged as a major hub of industry. There is an opportunity for development of IT sector and agribusiness in a major way apart from manufacturing including pharmaceuticals, light engineering and research & development and tourism”.
Illinois has the largest industrial market in the US and the third largest consumer market. Major exports include electrical and electronic equipment, computer equipment, transportation equipment, chemicals and allied products, metal, rubber and plastic products, medical and biotechnology equipment, food and kindred products, agricultural and construction equipment, bolts, nuts, rivets and washers, railroad equipment, packaging machinery, machine tools, environmental control equipment, power transmission equipment, industrial machinery, etc