Indian companies invest US$ 40 bn in the US: CII

The Indian Industry’s increased engagement with the US enhances the competitiveness of the country’s workforce

May 5, 2023

Indian companies have created about half a million jobs in the US

85% of surveyed companies plan to hire additional domestic employees in the next five years

83% of the surveyed companies plan to make future investments in the US

Indian foreign direct investment (FDI) is present in all 50 American states, with the highest in Texas followed by Georgia, New Jersey, New York, and Massachusetts

Indian companies have invested above US$40 billion in the US and created over 425,000 direct jobs, according to a report from the Confederation of Indian Industries (CII).

The report has surveyed 163 Indian companies across sectors like life sciences, pharmaceuticals and healthcare; IT and telecom, manufacturing, and services that have invested in the US.

The report stated that 85% of surveyed companies plan to hire additional domestic employees in the next five years, and 83% of them plan to make future investments in the US. Also, 50% of survey participants also reported anticipating greater US-based R&D projects in their funding pipelines.

In this regard, the Indian Industry’s increased engagement with the US through escalating investments, job creation, CSR, and R&D bolsters local communities and enhances the competitiveness of the US workforce.

The report said that India’s foreign direct investment (FDI) is present in all 50 American states, with the highest in Texas followed by Georgia, New Jersey, New York, and Massachusetts. In terms of the most direct jobs created by Indian companies, the areas taking the lead are Texas, New York, New Jersey, Washington, Florida, and California. 

Source: Economic Times

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