New Jersey released its statewide Global Economic Index (GEI) in late May, which revealed that, for the second year in a row, India leads the field.

Published by the NJ Economic Development Authority, the index focuses on foreign direct investment (FDI). FDI can include a company from abroad opening shop here—whether it’s a pharmaceutical firm setting up a lab in Somerset County or a tech company hiring engineers in Princeton. It’s not just money moving around, but companies opening offices, hiring workers, and becoming part of the local economy. In other words, it’s not just invisible money coming in and out; these are dollars that connect to substantive investments into NJ’s economy.

According to this report, India remains New Jersey’s most active and fast-growing international partner. India first took the top spot in 2024. Now in 2025, it’s holding that ground—thanks to a mix of high investment, long-term planning, and state-level relationship building. The index scores countries based on a combination of factors: how much they’ve invested over the past decade, how New Jersey compares regionally, how global investment trends are shifting, and the depth of official partnerships.

Ten of the 14 largest Indian pharmaceutical companies have offices in New Jersey, plugging directly into the state’s life sciences corridor. Clinical research groups like SIRO Clinpharm are here. So are ed-tech firms like Excelsoft Technologies.

Why New Jersey?

Our state has one of the densest STEM workforces in the country. It’s close to three major international airports, multiple seaports, and two of the biggest media and business hubs in the U.S. New Jersey is also home to one of the largest Indian-American populations in the nation. That community helps make the transition smoother for companies new to the U.S. culturally and professionally.

In 2020, STEM accounted for ~6% of all jobs in NJ and is well above the national average in degrees, with ~43% of its labor force holding a Bachelor’s Degree or Advanced Degree, along with a high concentration of STEM represented in that percentage. This economic union represents a window of opportunity for children in our state and points to a pivotal moment in providing children who reside in economically disadvantaged communities a pathway to middle and upper-class job opportunities.

Back in 2019, New Jersey opened the NJ India Center in Gurugram—one of only a handful of U.S. states with an office in India. That work continued in 2024, when Lt. Governor Tahesha Way led a delegation to deepen ties in clean energy, life sciences, and digital technology.

Europe still has a major footprint in New Jersey—with 21 countries represented in the Global Economic Index. Longtime partners like the UK and Germany have a strong legacy here in manufacturing, logistics, and finance. But India’s investment has a different energy. It’s newer, faster-growing, and focused on the future—especially in areas like healthcare, biotech, and intellectual property.

Lastly, five new countries were added to the list of foreign investors this year, bringing the total number to 42.

The following table gives a regional snapshot of the GEI:

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