155 Indian companies invested USD 22 billion, created over 1.2 lakh jobs in US: CII report

Washington

The report, Indian Roots, American Soil 2020, is a state-by-state breakdown of tangible investments made and jobs created by 155 surveyed Indian companies doing business in all 50 states, as well as Washington, DC, and Puerto Rico. Texas, California, New Jersey, New York and Florida are home to the greatest number of workers in the US directly employed by the reporting Indian companies, it said.

CII said the surveyed companies disclosed the highest amounts of foreign direct investment (FDI) in Texas, New Jersey, New York, Florida, and Massachusetts.

The states with the top concentrations of Indian companies reporting were New Jersey, Texas, California, New York, Illinois and Georgia. Together, 155 Indian companies employ nearly 125,000 people across 50 states, the District of Columbia and Puerto Rico. The total value of tangible investments made by these 155 companies exceeds $22 billion, the CII said.

Indian investments in 20 US states stand at over $100 million each, CII report said, adding 77 pc firms plan to make more investments in the US.

As many as 83 per cent of the companies plan to hire more employees locally in the next five years.