Indian companies have created over 113,000 jobs in the US, also investing nearly $18 billion in the country, as per an annual report. Released by Confederation of Indian Industry (CII), the report titled 'Indian Roots, American Soil', it gives a state-by-state breakdown of the tangible investments made and jobs created by 100 Indian firms doing business in America and Puerto Rico.
The report said that 100 Indian companies employ 113,423 people across 50 states, the district of Columbia, and Puerto Rico. It added that the total value of tangible investments made by these companies exceeds $17.9 billion. The top five states with maximum employment generated by Indian companies are New Jersey (8,572 jobs), Texas (7,271 jobs), California (6,749 jobs), New York (5,135 jobs) and Georgia (4,554 jobs). The top five states with the highest foreign direct investment are New York ($1.27 billion), New Jersey ($1.56 billion), Massachusetts ($931 million), California ($542 million) and Wyoming ($435 million).
Indian Ambassador to the US, Navtej Sarna said Indian professionals are making significant contributions to the US economy. “The presence and reach of Indian companies continue to grow each year as they invest billions of dollars and create jobs across the United States,” he said. Senator Chris Van Hollen said Indian firms are among the fastest growing investors in the US, contributing to growth and job creation in the US economy.
Congressman Ami Bera said as the world's oldest democracy and the world's largest democracy, a strong US-India partnership is vital for the 21st century. Congressman David Brat said, “According to CII's survey, Indian companies in Virginia have invested over $37 million in my state, and I can only hope that they will continue to invest in Virginia and that our engagement with these companies will continue to grow.” Chandrajit Banerjee, CII director general said the story of Indian investment in the US is one that showcases how intertwined the two countries are that contribute to each other's success.
James Shapiro, resident director North America of Tata Sons Ltd., said, “As the largest India-headquartered multinational in North America, the Tata Group has had operations and investments in the US market for many decades. Earlier this year, we announced plans to hire 10,000 American workers over the next two years, partnering with local colleges and universities to shrink the IT skills gap in the US, and are focused on upskilling and reskilling workers seeking to grow their careers in computer science.” The work of Infosys Foundation USA has benefited over 47,00,000 students, 13,000 teachers and 21,000 schools across all 50 states in America since 2015, he asserted.
