155 Indian Firms Created 1.25 Lakh New Jobs In USA; Rs 1.7 Lakh Crore Invested In One Year!
Confederation of Indian Industry (CII) has revealed some stunning statistics and hard core data on the contribution of India companies in the US, in last one year.
With more than Rs 1.7 lakh crore investments by India firms in the last one year, the data clearly shows that by opening up the borders, and making immigration and work visas easily available, both US and India stands to benefit.
We hope US Govt and immigration policy makers in the US observe the advantages they can get, by inviting more and more Indians into their country.
Indian Firms Generate 1.25 Lakh New Jobs
As per the report released by CII, total of 155 Indian firms generated 1.25 lakh new jobs in the US, in the last one year.
Total of $22 billion or Rs 1.7 lakh crore was invested by these Indian firms, across 20 states.
Which Industries Received Indian Investment?
These 155 Indian firms which invested $22 billion in the US are diversified lot, and focus on more than 10 industries.
Some of the sectors where these investments went through are: pharmaceuticals, telecommunications, aerospace and defense, financial services, manufacturing, tourism and hospitality.
Which US States Received The Investment?
The investment of $22 billion by Indian firms were primarily targeted in Texas, New Jersey, New York, Florida, and Massachusetts, but overall 20 states received the investment.
This means 1.25 lakh new jobs were created for Americans, across the country.
Chandrajit Banerjee, Director General, CII, said, “The survey results show that the US is a preferred investment destination for Indian companies which are contributing significantly to supporting local jobs. The results in the survey capture a snapshot in time, documenting tangible investments and direct jobs only, so I believe that the actual economic impact of Indian FDI in the US is much larger.”
Some more highlights from the report:
- 83% of the Indian companies active in US will hire more Americans in the next 60 months
- 77% of the Indian firms will invest more capital into the US, in the next 5 years
- The Indian companies working in the US focussed on both corporate social responsibility (CSR) and research and development in the US. While the CSR activities received $175 million; R&D expenditures stood at $900 million for a year.
- The cities where maximum jobs were generated are Texas, California, New Jersey, New York, and Florida.