22 May , 2023 Fdiindia
Confederation of Indian Industries says Indian FDI Amount created 425,000 Jobs in the United States
Multiple Indian companies have invested an amount of $40 billion in the United States which helped job seekers according to the Confederation of Indian Industries (CII) report. The sources say that Indian foreign direct investment (FDI) is present in all 50 American states and the highest investment is in Texas followed by Georgia, New Jersey, New York, and Massachusetts. For job creation, Indian companies have generated 35,000 American jobs via remote work.
Indian companies provided job creation in Texas (20,906), New York (19,162), New Jersey (17,713) and Washington (14,525) as of 2022. Eric Garcetti, US ambassador-designate to India, was present during an event that was celebrated for 220 Indian companies participating in Select USA, the flagship investment summit was arranged by the US Commerce Department.
According to the CII report, in 2020, 155 Indian companies had invested $22 billion. They created 125,000 jobs in the US. So, the current report has shown a massive growth in Indian investment. All this has made India attractive to different states, political leaders, and Senators and House representatives. This year's report says that 29% of Indian investments in the US are in the life sciences, pharmaceutical, and healthcare sectors.
Around 21% of companies are in the information technology and telecommunications sector, 18% companies in manufacturing, 10% in financial, legal, logistical, and design services, 5% in automotive, 4% in food and agriculture, 3% in tourism and hospitality, and 2% in energy. Such companies of India also invested over a billion dollars in research and development (R&D).
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