Indian companies responsible for over 113,423 jobs in US
In the latest finding published in a report by the Confederation of Indian Industries (CII), it has been observed that a total of 100 companies are responsible for the creation of around 113,423 jobs in the United States of America.
According to the report titled "Indian Roots, American Soil,", a total value of tangible investments made by these 100 companies exceeds USD 17.9 billion. The top five states in which Indian companies have generated maximum employment are: New Jersey (8,572 jobs), Texas (7,271 jobs), California (6,749 jobs), New York (5,135 jobs) and Georgia (4,554 jobs).
On the investment front, the top five states in which Indian companies have contributed the highest foreign direct investment are: New York (USD 1.57 billion), New Jersey (USD 1.56 billion), Massachusetts (USD 931 million), California (USD 542 million) and Wyoming (USD 435 million). The average amount of investment received from Indian companies per state/territory is USD 187 million, the CII noted.
While 85 percent of the companies plan to make more investments in the United States, 87 percent of the companies plan to hire more employees locally in the next five years.
"Indian industry and professionals are making significant contributions to the U.S. economy - I am delighted that this fact is being recognised today at the CII event on Capitol Hill. The presence and reach of Indian companies continues to grow each year as they invest billions of dollars and create jobs across the United States," said Ambassador Navtej Sarna, India's Ambassador to the U.S.
For the unversed, the report is a state-by-state breakdown of tangible investments made and jobs created by 100 surveyed Indian companies doing business in all 50 states, as well as Washington, D.C., and Puerto Rico. New Jersey, Texas, California, New York and Georgia are home to the most number of workers in America directly employed by Indian companies. New York, New Jersey, Massachusetts, California, and Wyoming have the highest foreign direct investment (FDI) from Indian companies.
-ANI
