Indian Companies Create Nearly 425,000 Jobs in US with $40 Billion Investment

A recent survey by the Confederation of Indian Industry (CII) reveals that Indian companies have invested over $40 billion in the United States, creating nearly 425,000 jobs in the country. The survey, titled "Indian Roots, American Soil," was launched by India's Ambassador to the United States Taranjit Singh Sandhu, and it also indicates that Indian companies spent nearly $185 million as corporate social responsibility in the United States and nearly $1 billion in financing US-based research and development projects.

Positive Economic Relationship Between US and India

Indian companies in the US bring strength, resilience, and competitiveness to the US market, creating virtuous cycles of prosperity. Sandhu highlighted the positive economic relationship between the US and India, emphasizing that Indian companies have transformed neighborhoods in the US by creating jobs, supporting local communities, and building capacity and technical know-how. India has always believed that success is to be shared, and sharing is a success.

Future Plans for Investment and Job Creation

According to the CII Director General Chandrajit Banerjee, Indian companies have demonstrated their resilience and commitment to the US market by investing and creating jobs, diversifying sectors and expanding their geographic presence across the US. The survey indicates that 85% of the companies plan to make more investments in the United States in the next few years, and 83% of the companies plan to hire more employees in the US in the next five years. This points to a positive growth trajectory for the US-India economic relationship.

Top States Benefiting from Indian Companies' Investment and Job Creation

The top ten states benefiting from jobs created by Indian companies are Texas, New York, New Jersey, Washington, Florida, California, Georgia, Ohio, Montana, and Illinois. Texas, Georgia, and New Jersey are the top three states with the most reported foreign direct investment (FDI) from Indian companies, followed by New York, Massachusetts, Kentucky, California, Maryland, Florida, and Indiana.

Large India Delegation at Select USA Summit

This is one of the largest India delegations ever at the Select USA Summit, with representatives from Indian companies currently attending the event. The reception at India House was attended by Governor Ray Cooper of North Carolina, Governor Lourdes A. Leon Guerrero of Guam, Governor Arnold Palacios of the Commonwealth of Northern Mariana Islands, Assistant Secretary of Commerce Arun Venkataraman, Executive Director of SelectUSA Jasjit Singh, and 250 participants from the business community and 25 US state representatives.