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India to be the Fourth Largest Source of FDI for the U.S.
SI Team
Friday, August 7, 2015
According to a new report released by Confederation OF Indian Industry (CII) and Grant Thornton (GT), Indian based companies are responsible for generating tens of thousands of jobs and investments worth $15 billion. The report, Indian Roots, American Soils observed that New Jersey, California, Texas, Illinois and New York are the catchment areas for the Indian companies.
Arun K. Singh, Indian Ambassador to the U.S. elucidated that 'this trend' has developed over the years and has undergone a great progress. According to Singh, Indian companies are not only generating jobs but have also become stakeholders in the growth and prosperity of local communities. Endorsing Singh's claim, U.S. Senator Mark Warner, Senate India Caucus highlighted the thriving commercial exchanges that the two countries have been sharing. These 'exchanges' have become a cornerstone for the relations between India and the U.S. Warner noted that India will become the fourth fastest source of FDI in the U.S. Indian companies have become a key in generating jobs in Virginia already.
As per reports released by CII, Indian companies have invested in excess of 415.3 billion while employing 91,000 people from 35 states and the District of Columbia. On an average a state receives $443 million from Indian companies. The report also stated that Texas has topped the charts by receiving highest foreign direct investment with the figure standing at $3.84 billion.

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