India First Edition

Illinois is not affected by downturn says MD of Illinois Office of Trade & Investment

 
Mumbai:  “Illinois is not going to be as badly affected by the financial downturn as many other states of USA. Therefore, this is a good time to buy property and build up a joint venture in Illinois, to create a warehouse or assembling plant for your goods to be exported all over the Western Hemisphere,” said Mr Rajinder Bedi, Managing Director of the Office of Trade & Investment, State of Illinois, at a meeting held at IMC yesterday. He was accompanied by Mr Joti Bhattacharjee, Managing Director of this office in India.
 
Delivering the welcome address, Mr M N Chaini, President of IMC, said that according to Standard & Poor, India’s investment climate remains good despite the downturn, thanks to its large and robust domestic market. “Our financial crisis is likely to prove more manageable, compared to western countries,” he said, adding that India continues to be an important destination for back-office operations and other highly-skilled services.
 
Mr Bhattacharjee stated that if the gross state product (equivalent of Gross National Product) of Illinois was so large that if it were an independent nation, it would have ranked 18th among the largest and most prosperous nations . Chicago is the 2nd largest and busiest airport in the world, and is home to the headquarters of 30 Fortune 500 companies, including leading IT & Biotech firms and manufacturers of chemicals, machine tools and food-processing machinery.
 
“We are one of the most aggressive states that go out and sell products,” said Mr Bedi, adding, “If you are a successful company, we can help you sell your products and services all over the world.”