'US cos come for cost, but stay for quality'

"India is one of the fastest developing economies in the world. Indo-US relations are at their strongest at this point in time and the world is looking at India with a new perspective. Companies come here for cheaper wages, but stay on for the quality of work," said governor Mark R Warner from the Commonwealth of Virginia, USA.

A former venture capitalist, Warner was accompanied by a 65-member trade delegation, the largest ever from US to visit India. Drawing out comparisons between the State of Virginia and India, he said both were at leading edge of economic and technological development.

He also said that companies in Virginia are not only keen in investing in India but also to attract Indian companies to set up base in Virginia.

"With the opening of an international trade office of Fairfax County in Bangalore, business ties between Karnataka and Virgina are bound to strengthen. There is a 10-member team already operating at the office, to help Indian companies setting up base in Virginia," said the governor.

He further added that India and US were the two of the largest democracies and hence strong ties were required to be built not only in hi-tech sectors but also in manufacturing in the small and mid-size segment.

Indian entrepreneurial skills are unmatched by anyone in the world and hence Virgina offers to Indians excellent opportunities in key sectors, said governor Warner.

Vinay L Deshpande, former chairman CII-Karnataka, congratulated the governor on the reforms in health, education and transportation in Virginia.

He expressed a need for joint collaborations and ventures between the companies in Virginia and India, to leverage the strong ties between the two economies.