On the first official day of a six-day economic development mission to India, four Maryland businesses have already signed agreements with their Indian counterparts, boosting two-way trade and investment for Maryland and India.
After a brief stop in Doha, Qatar, where he met His Highness the Amir of Qatar; company officials of Q-Tel, one of the fastest growing mobile companies; and officials of Diar, a real estate company, Governor O’Malley witnessed the agreement signings before the four companies and their Indian partners.
A view of Qatar.
ANGARAI, a Greenbelt-based management consulting firm specializing in project management, oversight and business transformation solutions and one of Prince George’s County’s fastest growing small businesses, signed an agreement with CI , a technology product development company based in Chennai. The agreement enables ANGARAI to pursue opportunities in mobile and web applications, potentially opening up an office in Maryland.
The second signing was between Rockville-based Sheladia Associates, an engineering, architecture and development company and two Indian firms – M/S Sai Matarani Toll Ways Ltd. and Gayatri Projects Ltd. Sheladia will provide design and project management services valued at $3.7 million for upgrading the Panikoili – Rimouli Section of National Highway 215 to a 4 Lane facility in the State of Orissa.
A third signing involved an MOU between Maryland-based DataNet Systems Corp. and RT-MediBus Technologies and the Health Management and Research Institute in Hyderabad to create MediHelp, a 24-hour/seven-day a week health care helpline. The creation of the helpline can help screen minor ailments and illnesses, which could ultimately reduce the overall cost of public healthcare. The call center would be located in Prince George’s County.
A view of Hyderabad.
In addition, Amarex, a Germantown-based clinical research organization, signed an agreement with Gaithersburg’s Shreis Scalene Sciences LLC to gain FDA approval for the medical device Cytotron, which uses a patented technology to treat regenerative and degenerative diseases such as cancer, osteoarthritis and multiple sclerosis. The device was invented and developed by Dr. Rajah Vijay Kumar, Chairman of Scalene Cybernetics in Bangalore, a technology and equity partner of Shreis Scalene Sciences.
The delegation, which includes 100 business leaders, educators and elected officials, arrived in Hyderabad in the early hours this morning. Upon arrival, Governor O’Malley addressed the Confederation of Indian Industries, a non-government, not-for-profit organization that is over 116 years old. The association has over 8,100 members from the private and public sectors, and includes over 90,000 companies from the region.
The Governor later met with Dr. Kiran Kumar Reddy, Chief Minister of Andhra Pradesh, for a sister-state agreement signing between Maryland and Andhra Pradesh. The agreement commits the two regions to working together on matters of business and industry, culture and arts and education and health.
Governor O'Malley met with Dr. Kiran Kumar Reddy, Chief Minister of Andhra Pradesh, and signed a sister state agreement to promote collaboration on matters of business and industry, culture and arts and education and health.
Between 2004 and 2009, Indian companies made eight acquisitions in Maryland, totaling $564 million. 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. 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.
Governor O’Malley, First Lady O’Malley and the delegation will spend two days in Hyderabad, and will then travel to Mumbai and New Delhi to boost two-way trade and investment. The six-day mission will wrap up with a visit to the Taj Mahal. Governor O’Malley is the first sitting Governor from Maryland to lead a trade mission to India.