Indian companies account for $15 billion in investments, 91,000 jobs in US
The report states that New Jersey, California, Texas, Illinois and New York are home to most Americans directly employed by Indian companies
New Delhi: India-based companies create tens of thousands of jobs and $15 billion in investments across the US, according to a new report released on Wednesday by the Confederation of Indian Industry (CII) and Grant Thornton (GT).
The report, Indian Roots, American Soil, states that New Jersey, California, Texas, Illinois and New York are home to most Americans directly employed by Indian companies.
The report also gave a state-wise breakdown of investments and revealed that Texas, Pennsylvania, Minnesota, New York and New Jersey have the highest foreign direct investment (FDI) from Indian companies.
“The Indian industry is making a significant contribution to the US economy, investing billions of dollars and creating thousands of jobs across states and sectors," said Indian ambassador Arun. K. Singh.
“Indian companies are not just investing and creating jobs, they have also become significant stakeholders in the growth and prosperity of the local communities," Singh added.
Indian companies, with total tangible investments exceeding $15.3 billion, employ more than 91,000 people across 35 states and the district of Columbia. The average amount of investment received from Indian companies per state is $443 million.
CII released the study on Capitol Hill during an event that highlighted the contributions of Indian companies to the US economy in the form of FDI, jobs created and research and development.
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