Indian Cos Generated 81,000 Jobs In U.S. In 2013: Survey

Friday, 28 March 2014, 09:25 Hrs
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WASHINGTON: Indian companies through its massive $17 billion investment in the U.S. have collectively generated employment opportunities for more than 81,000 people in the country, according to a survey.



The annual CII survey of 68 Indian companies in 40 American states for 2013, made public yesterday at an event at the Capitol Hill, showed that New Jersey, California, New York, Texas and Illinois have the largest concentration of Indian companies.



“According to the survey, the collective investments amount to a whopping $ 17 billion as of today and together they generate employment for more than 81,000 people in the United States,” said the report "Indian Roots, American Soil: Story of Indian Companies, growing impact on the U.S. economy".



In fact, in recent years, India has emerged as one of the 10 fastest growing sources of foreign direct investment into the U.S. according to data from the U.S. Department of Commerce.



Further, data from Reserve Bank of India shows that the U.S. features among the top five destinations for FDI from India.



“All of these factors point to the growing prowess of Indian industry in the United States, in terms of investments, job creation and thus, overall economic impact. The U.S.-India economic relationship is certainly poised for further growth, though awaits more impetus,” the CII report said.



“Advancing discussions on the Bilateral Investment Treaty, encouraging programmes such as Global Entry for ‘trusted travellers’ and addressing challenges in labour mobility will be crucial in driving this growth forward,” it said.
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Source: PTI
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