Indian Companies Invested Over $40 Billion in the United States, Creating 425,000 Jobs: Report

The Confederation of Indian Industry (CII) has released a survey, titled "Indian Roots, American Soil," which reveals that 163 Indian companies have invested more than $40 billion in the United States (US), creating nearly 425,000 jobs in the country. The CII report was launched by India's Ambassador to the US, Mr. Taranjit Singh Sandhu.

The survey also found that Indian companies have spent approximately $185 million on corporate social responsibility (CSR) initiatives in the US, and have financed almost $1 billion in research and development (R&D) projects.

Indian Companies Boost Local Economies Across the US

Speaking about the survey findings, Mr. Sandhu noted that Indian companies in the United States US bring strength, resilience, and competitiveness to the country, creating jobs, supporting local communities, and building capacity and technical expertise. He praised Indian companies for their contributions to improving American neighbourhoods, collaborating with schools, and boosting the economy by generating positive cycles of employment, investment, and growth.

CII Director General, Mr. Chandrajit Banerjee, highlighted the tenacity and dedication of Indian companies to the US market, pointing to increased investments, job creation, industry diversification, and geographic expansion across the country. He noted that the intentions of Indian companies to increase their investments and employment further indicate a strong growth trajectory for the US-India economic relationship.

Top States Benefiting from Indian Investments and Job Creation

The top ten states benefiting from the jobs created by Indian companies are Texas, New York, New Jersey, Washington, Florida, California, Georgia, Ohio, Montana, and Illinois. Texas tops the list with 20,906 jobs created, followed by New York with 19,162 jobs and New Jersey with 17,713 jobs.

The top ten states with the most reported foreign direct investments (FDI) from Indian companies are Texas, Georgia, New Jersey, New York, Massachusetts, Kentucky, California, Maryland, Florida, and Indiana. Texas leads the pack with $9.8 billion in FDI, followed by Georgia with $7.5 billion and New Jersey with $4.2 billion.

Indian Companies Plan to Increase Investments and Employment in the US

According to the CII survey, 85% of Indian corporations intend to increase their investments in the US, and 83% plan to increase their personnel counts over the next five years. This bodes well for the US economy and demonstrates the confidence of Indian companies in the country's business climate.

In conclusion, the CII survey highlights the significant contributions of Indian companies to the US economy through their investments, job creation, CSR initiatives, and financing of R&D projects. As Indian companies plan to increase their investments and employment in the US, the US-India economic relationship is poised for strong growth in the coming years.

Important News Tags and Headlines for Readers

Indian Firms Boost US Economy with $40 Billion Investment and Job Creation

Indian Businesses Invest Billions in US, Generate Thousands of Jobs: Report

Indian Companies Expand Footprint in US with $40 Billion Investment, 425,000 Jobs

Indian Roots, American Soil: 163 Indian Companies Invest $40 Billion, Create 425,000 Jobs in US