Fairfax County EDA handholding Indian firms to set up biz in US

Hyderabad: World Trade Center (WTC) Shamshabad in association with Fairfax County Economic Development Authority (EDA), Virginia USA and US Commercial Services organised an information session - "Fairfax County, USA: Global Business Destination and the most trusted support in US Business Expansion" in Hyderabad on Wednesday.

"In 2021, the total foreign direct investment (FDI) from India to the US was $14.4 billion and these investments have directly supported over 72,000 US jobs and helped expand US exports by $1.7 billion. This year, the FDI is again on an upward trajectory in the US," said Jennifer Larson, US Consulate General in Hyderabad, in her keynote address. The US continues to be the world's largest investment destination for good reason. We've learned that success in the US market can help drive success globally, she informed during the session.

Jennifer further said, "To foster bilateral trade and bilateral ties, the US market really opened up to people who've been considering it over the past couple of years. Every year, the US Department of Commerce holds its select USA Investment Summit, gathering thousands of investors from around the world to learn about the investment climate in the US."

"Fairfax County EDA is supporting the startups and other companies from anywhere in the world to set up their businesses in Fairfax County, Virginia. We provide free and confidential services to help them expand and grow their business," Fairfax County EDA (International Business Investment) Assistant Director Juhi Naithani told The Hans India.

She said, "Our services range include providing the enthusiastic firms with information, market intelligence, and real estate support if they're looking for office space with PR assistance if they're looking to boost their messaging, along with plugging new companies and startups into the business community." Granules India Founder and Managing Director Dr Krishna Prasad Chigurupati presented his company's growth in Fairfax County, Virginia, as a case study during the event. He said, "We have started our operations in the US during late 1980s. We set up an office in New Jersey. We have around 160 people working in the US facilities. We will soon hire 300 people in this region."

He further informed that his company will be shortly opening a new packaging unit in Virginia, and the new site will provide employment to 60 persons. Virginia Governor Glenn Youngkin will soon inaugurate the facility, he said, adding that the previous governors of the region have also been very friendly towards the entrepreneurs from India.

On the occasion, there was a panel discussion and the panelists in the session include Navitas Founder & CEO Srini Bayireddy, Kellton Tech President Niranjan Chintam and Davies & Associates Of Counsel Zeenat Phophalia and Fairfax County EDA (International Business Investment) Assistant Director Juhi Naithani.