New Delhi: India-based companies are responsible for creating tens of thousands of jobs and $15 billion in investments across the United States, according to a new report released by Confederation of Indian Industry (CII) and Grant Thornton (GT). For the first time, the report, “Indian Roots, American Soil,” also captured a state-by-state breakdown of tangible investments made and jobs created by 100 Indian companies doing business in the United States.
New Jersey, California, Texas, Illinois and New York are home to the most Americans directly employed by Indian companies. 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. This trend has grown stronger over the years and is continuing to show remarkable progress,” said Indian Ambassador to the US Arun K. Singh.
He said that today Indian companies are not just investing and creating jobs, they have also become significant stakeholders in the growth and prosperity of their local communities.
“Their linkages run deep through the support extended by them to education programs and capacity building,” said the ambassador. According to the report, 100 Indian companies employ more than 91,000 people across 35 states and the District of Columbia.
The total value of tangible investments made by these 100 companies exceeds $15.3 billion. The top five states in which Indian companies have generated maximum employment are: New Jersey (9,278 jobs), California (8,937 jobs), Texas (6,230 jobs), Illinois (4,779 jobs) and New York (4,134 jobs). The top five states in which Indian companies have contributed the highest foreign direct investment are: Texas ($3.84 billion), Pennsylvania ($3.56 billion), Minnesota ($1.8 billion), New York ($1.01 billion) and New Jersey ($1 billion).
The average amount of investment received from Indian companies per state is $443 million. Around 84.5 per cent of the firms plan to make more investments and 90 per cent plan to hire more in the US, said the report.
