Indian Firms Invest $15 Bn In U.S., Employ Over 90,000

WASHINGTON: India-based companies have invested over $15 billion across the U.S., creating an estimated 91,000 jobs, according to a new report released by the Confederation of Indian Industry (CII) and Grant Thornton (GT). 

New Jersey, California, Texas, Illinois and New York are home to the most Americans directly employed by Indian companies, according to the report, "Indian Roots, American Soil" released here Tuesday at an event on the Capitol Hill. 

Texas, Pennsylvania, Minnesota, New York, and New Jersey have the highest foreign direct investment (FDI) from Indian companies, says the report which for the first time provides a state-by-state breakdown of tangible investments made by Indian firms. 

The event highlighting the contributions of Indian companies to the U.S. economy was attended by several members of the U.S. Congress and a delegation of CII member-company CEOs from India. 

"Today Indian companies are not just investing and creating jobs, they have also become significant stakeholders in the growth and prosperity of their local communities," said Indian Ambassador Arun. K. Singh. 

"The CII study draws attention to the growing contribution and influence of the Indian industry, which forms an important component of our growing and vibrant relationship with the United States," he said. 

"As India surges forward to become the fourth fastest growing source of FDI into the U.S., it is critical that we recognize the positive impact of Indian business investments in the country," said Senator Mark Warner, Democratic co-chair of Senate India Caucus. 
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