According to a new report from the Confederation of Indian Industry (CII) and Grant Thornton (GT), India-based businesses have generated tens of thousands of jobs and $15 billion in investments across the United States.
The report, “Indian Roots, American Soil,” for the first time included a state-by-state assessment of the actual investments made and jobs produced by 100 Indian companies doing business in the US. The states where Indian businesses employ the most Americans directly include New Jersey, California, Texas, Illinois, and New York. The states with the most foreign direct investment (FDI) from Indian corporations are Texas, Pennsylvania, Minnesota, New York, and New Jersey.
According to the honorable Indian ambassador to the US, Mr. Arun K. Singh, said “Indian business is investing billions of dollars and generating thousands of jobs across states and industries in the US. This pattern has gotten stronger over time and has made outstanding advancements. Indian businesses are now playing a key role in the development and prosperity of their local communities, in addition to investing and creating jobs. Through the assistance they provide for educational initiatives and capacity building, their connections with one another run deep. The CII report highlights the expanding influence and contribution of the Indian industry, which is a crucial element of our dynamic and expanding relationship with the United States.
The survey was launched by CII on Capitol Hill as part of an event that emphasized the economic contributions made by Indian businesses to the United States, including FDI, jobs produced and saved, R&D, skills training, and local CSR programs. India’s ambassador to the United States, Ambassador Arun K. Singh, stated his support for the contributions. Additionally, a delegation of CEOs from Indian CII member companies as well as several US Congress members attended the event.
The respondents to the CII-GT survey come from a variety of industries, including engineering and construction, pharmaceuticals, telecommunications, financial services, health care, materials and manufacturing, media and entertainment, tourism and hospitality, automotive, food and agriculture, energy, and information technology.
Indian Roots American Soil is the CII’s signature event on Capitol Hill and is a part of our ongoing efforts to promote the good tales of Indian companies’ contributions to the US economy and society, according to Chandrajit Banerjee, Director General of CII. Through this event, we hope to draw attention to the breadth and depth of Indian investments in the US. India is currently the fourth fastest-growing source of foreign direct investment into the United States; this is an important development in the burgeoning US-India business relationship and has a direct, positive effect on the communities where these businesses operate. It’s a tale that must be recounted repeatedly.
According to CII President Sumit Mazumder, “Indian industry is bullish on the US-India Partnership today.” Our businesses have a strong commitment to the US market and have a strong local presence in the areas where they invest and employ people. In many respects, these Indian enterprises in America, which have Indian roots but are deeply ingrained in US soil, best represent PM Modi and President Obama’s vision for the US-India partnership.
The following organizations took part in the Capitol Hill event: Bank of Baroda, Birlasoft, Cyient, Dr. Reddy’s Laboratories, EsselPropack, Exim Bank, ICICI Bank, Infosys, ITC Infotech, Larsen & Tourbo, Mahindra USA, Mindteck, NIIT, Piramal Healthcare, State Bank of India, Sun Pharma, Taj Hotels and Resorts, TATA Communications, TATA Group, TATA Consultancy
The robust business interaction between the two nations is a pillar of relations between India and the U.S., according to the honorable US Senator Warner of Virginia, co-chair of the Senate India Caucus. It is crucial that we acknowledge the beneficial effects of Indian corporate investments in the nation as India advances to become the fourth fastest-growing source of FDI into the U.S. Indian businesses have played a significant role in Virginia in fostering job growth and community involvement. In my opinion, future expansion of Indian business operations in the nation would be welcome.
