The Maryland Department of Commerce and the U.S. India Investors Forum (USIIF)  joined together this week to renew a memorandum of understanding to strengthen international relations between Maryland and India.

The agreement, which focuses on fostering economic growth and development in the two regions, will last for three years and has the ability to be renewed. The original Maryland/USIIF MOU was signed in March 2015, as pictured above.

Together, the entities will work to enhance investment and trade, while assisting companies with new business opportunities in Maryland and India. The renewal was signed "virtually" by Maryland Commerce Secretary Mike Gill and USIIF chairman Manoj Gursahani, and witnessed by USIIF CEO Shital Kapoor.

Virtual MOU signing between USIIF and Maryland Commerce

India continues to be an important international partner for Maryland. In 2021, the state exported $625 million of products and services to India, and imported an additional $790 million from the South Asian country. Several successful Maryland businesses have Indian roots, including Global Alliant, led by Dr. Rajan Natarajan, the first Indian American to be appointed to a sub-cabinet level position in state government; Lupin Pharmaceuticals , an innovative Baltimore pharma company with its parent company headquarters in Mumbai; and Jubilant Cadista , a life sciences business with a major presence on Maryland’s Eastern Shore.

USIIF was formed with the primary focus to facilitate new relationships between U.S. and Indian companies, with the support of the U.S. Consulate and U.S. Commercial Service under the U.S. Department of Commerce's International Trade Administration.