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100 Indian companies create over 1 lakh jobs and invested $18 billion in US: Report

Indian companies

Washington:  Indian companies have created more than 113,000 jobs in the US and invested nearly $18 billion in the country, according to an annual report which gives 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 titled ‘Indian Roots, American Soil’, which was released by Confederation of Indian Industry (CII) on Tuesday, states that Indian companies have also contributed $147 million towards corporate social responsibility and $588 million as research and development expenditures in the US.

Together, 100 Indian companies employ 113,423 people across 50 states, the District of Columbia and Puerto Rico, the report said, adding that the total value of tangible investments made by these companies exceeds $17.9 billion.

According to the report, the top five states in which Indian companies have contributed the highest foreign direct investment are New York ($1.57 billion), New Jersey ($1.56 billion), Massachusetts ($931 million), California ($542 million) and Wyoming ($435 million).

As many as 87 per cent of the companies plan to hire more employees locally in the next five years.

Indian industry and professionals are making significant contributions to the US economy, said Indian Ambassador to the US Navtej Sarna.

As the world’s oldest democracy and the world’s largest democracy, a strong US-India partnership is vital for the 21st century, said Congressman Ami Bera.

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