Diversity is untapped tool for eco development: New Jersey Gov

Diversity is not just a badge of honour culturally, but also a tool for economic development, Governor of the US state New Jersey, Phil Murphy, said on Thursday. The remarks by the Governor of the eastern American state comes at a time when the Indian information technology firms have upped their local hiring in the US due to reservations in Trump administration's policies to allow immigrants.

"We hold this diversity not just as a cultural badge of honour, but we view it, as well, as an untapped tool for economic development," Murphy said, addressing a business summit in India's financial capital. The Democratic Party politician explained that this is because leading companies "want to go where they feel welcomed, where their employees are respected, and where our common values guide us".

He said the state bordering New York is home to 4.2 lakh people of Indian origin, and claimed Indian culture is felt more strongly in his state than anywhere else in the US. Murphy also spoke out against protectionism in the comments that come amid increased inward-looking attitudes the world over which is visible the most in the US-China trade wars.

"No one should be misled into thinking they can grow a thriving, sustainable, and innovative economy through a protectionist and closed mindset," he said. He also invited Indian businesses to invest in his state, claiming that such moves have a positive impact not just on the region where the investment is being made but also on the company.

With a value of USD 8.3 billion, India is the fourth largest foreign trade partner for his state, he said, adding India is also the second-largest source of greenfield foreign direct investment for the state..