Tractus appointed by New York State to represent its Trade Promotion in India

CHENNAI, India, August 26 2022 – Empire State Development (ESD), the economic development arm of New York State has a mission to promote the state’s economy, encourage business investment and job creation, and support local regional economies.

ESD recently appointed Tractus to represent New York companies and their export trade promotion to India. This is in addition to Tractus on-going representation of the New York’s Foreign Direct Investment (FDI) attraction from India. New York State’s decision to promote increases in trade with and investments from India reflects ESD’s confidence in the Indian economies continuing growth and surging consumer demand for imported U.S. goods and services.

India has emerged as the fastest-growing major economy in the world. Most economists expect it to be one of the top three global economic powers over the next 15 years. As the world’s largest democracy with a youthful 1.3 billion population, India offers a plethora of export opportunities for New York companies. India’s economy is expected to grow over the next five years to USD 1 trillion with the world’s fifth largest consumer base. Its rapidly growing middle-class – which depending on the calculation – is between 10 and 30 percent, or 130 to 390 million consumers.

Tractus, co-founder and Managing Director, John Evans said, “We are thankful for ESD’s continued confidence in Tractus to achieve its Asian export promotion and Investment attraction goals. We are confident in the Tractus India team’s ability to help ESD achieve its export and investment attraction goals and objectives in India.”