Mercer Times

Bengaluru — The New Jersey-India Commission, alongside Choose New Jersey, facilitated the signing of a Letter of Intent (LOI) between New Jersey and Karnataka. This agreement was part of the Commission’s first economic mission and aims to strengthen technology industries by promoting innovation in emerging sectors. Lieutenant Governor Tahesha Way signed the LOI at the TiE Global Summit in Bengaluru, where she also spoke about the shared commitment of New Jersey and India to fostering business environments and cultural ties.

“This partnership reflects and builds upon the longstanding economic and cultural relationship between New Jersey and India, strengthened by shared economic goals and deep cultural roots,” said Lieutenant Governor and Secretary of State Tahesha Way. “The collaboration between New Jersey and the State of Karnataka will join global leaders in biotechnology and information technology in pursuit of innovation while fostering our respective economies.”

The agreement seeks to leverage New Jersey’s life sciences ecosystem with Karnataka’s leadership in life sciences and technology. It aims to drive economic growth through bilateral trade, investment in life sciences, technology, electronics sectors, as well as collaboration with academic institutions for research opportunities.

“New Jersey and India share a commitment to advancing life sciences and technology through cutting-edge practices and research,” said Wesley Mathews, President and CEO of Choose New Jersey. “This agreement establishes a new pathway toward innovation with the State of Karnataka while providing opportunities to foster cooperation between our respective innovation and technology communities.”

The inaugural mission highlights New Jersey's dedication to strengthening ties with India across various sectors. Established in 2024, the Commission unites government, business, academic leaders to enhance trade, cultural connections, support collaborations that drive innovation. The Commission played a key role in facilitating this LOI.

New Jersey is recognized as a global hub attracting immigrants and international businesses worldwide. India ranks as its second-largest foreign direct investor with $11.3 billion annual bilateral trade. Indian residents form over 41% of New Jersey’s Asian population. As this demographic grows locally, Choose New Jersey supports business owners both domestically overseas through its offices located Delhi Bengaluru—the only U.S state having two offices within country—enhancing assistance Indian businesses expanding into U.S market via state.

For more details on full LOI or additional information regarding inaugural economic mission contact Toral Patel (toral.patel@nj.gov), Ingrid Austin (iaustin@choosenj.com), visit choosenj.com/IndiaMission.

Choose New Jersey is described as leading non-profit organization focused on attracting businesses by leveraging collective power from various sectors expand economy globally using marketing expertise concierge services knowledge convening power collaboration state government empower entrepreneurs innovators make home base learn more visit choosenj.com

The NJIC was established strengthen ties between regions focusing on strategic partnerships fostering innovation driving growth committed deepening collaboration key areas such manufacturing higher education supporting initiatives promote trade investment cultural exchange positioning premier destination talent