Trump Needs To Thank Indian Companies For Generating Employment in the US
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Every year a number of Indian graduates move abroad to seek better job opportunities. Going by the economic growth, United States tops the list of countries that Indians would like to migrate. Other than citizens, many Indian companies are also expanding their global reach. Despite all regulatory obstacles, these companies have chosen the foreign market to access more opportunities and make a global presence.
According to a new report released by the Confederation of Indian Industry (CII), one hundred companies with origins in India are responsible for creating more than 100,000 jobs and $17.9 billion in investments across the United States. So for Indians looking for jobs, now might be the best time to move to the land full of burgeoning opportunities.
The report titled “Indian Roots, American Soil,” surveyed 100 Indian companies doing business, investment and job creation in all 50 states. It further draws attention to the growing contribution and influence of the Indian industry in the United States.
Entrepreneur India takes a look at some other key highlights of the report:
Highest FDI From Indian Companies :
The Indian industry and professionals are making significant contributions to the U.S. economy.
As per the report, the top five states where Indian companies have generated most numbers of employees are New Jersey, Texas, California, New York and Georgia.
India is also moving forward to become the fastest growing source of FDI in the US.
States like New York, New Jersey, Massachusetts, California, and Wyoming have the highest foreign direct investment (FDI) from Indian companies.
The surveyed companies provided data regarding their corporate social responsibility (CSR) and research and development expenditures, which totaled $147 million and $588 million, respectively.
Rising Popularity on Foreign Land:
Indian companies are gaining popularity among their employees even on foreign land.
The report highlighted that together, 100 Indian companies have employed 113,423 people across 50 states. The total value of tangible investments made by these 100 companies exceeds $17.9 billion.
The finding indicates that 85 percent of the companies plan to make more investments in the United States. On the other hand, 85 percent of the companies plan to make more investments in the United States.
According to India's Ambassador to the US Navtej Sarna, the report highlights Indian industry’s ascension as a significant stakeholder in the U.S. economy.
"This is a critical component of India's strong and vibrant bilateral relationship with the U.S, which continues to flourish in strategic terms as well. The presence and reach of Indian companies continue to grow each year as they invest billions of dollars and create jobs across the United States," he said in the report.