Indian companies created over 2,500 jobs in U.S in last 6 yrs: CII
Thursday, 31 March 2011, 23:21 IST   |    2 Comments
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Indian companies created over 2,500 jobs in U.S in last 6 yrs: CII
NEW DELHI: Indian companies operating in the U.S have created over 2,500 jobs in America since 2005 on account of buyouts of the U.S firms. According to a CII study, nearly two-third of Indian firms, which have operations in the U.S, have generated 2,585 jobs in America in the last six years due to their acquisition of U.S firms. Since 2005, Indian firms have acquired various American companies with a total deal size of about $six Billion. The survey, which was based on 35 CII-India Business Forum member companies, representing sectors such as pharma, telecom, healthcare and energy among others. In all, these Indian companies employ more than 60,000 people across 40 states of the U.S and an overwhelming majority of employees in these firms are American citizens. "Indian businesses have widely invested in the U.S and have sustained and generated thousands of direct and indirect jobs and have contributed to the global competitiveness of U.S companies," Indian Ambassador to U.S Meera Shankar, who was present during the release of the study in Washington said.
Source: PTI
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