163 Indian companies invested USD 40 bn in US; created 425K jobs: Report

As many as 163 Indian companies have invested more than USD 40 billion in the United States so far which has created nearly 425,000 jobs in the country, according to a survey.

The survey titled 'Indian Roots, American Soil' of the Confederation of Indian Industry (CII), which was launched on Wednesday by India's Ambassador to the United States Taranjit Singh Sandhu in the presence of US Ambassador-designate to India Eric Garcetti, also revealed that Indian companies spent nearly USD 185 million as corporate social responsibility in the United States and their financing of US-based Research and Development (R&D) projects is nearly USD 1 billion.

The top ten states benefiting from jobs created by Indian companies are Texas (20,906 jobs), New York (19,162 jobs), New Jersey (17,713 jobs), Washington (14,525 jobs), Florida (14,418 jobs), California (14,334 jobs), Georgia (13,945 jobs), Ohio (12,188 jobs), Montana (9,603 jobs), Illinois (8,454 jobs).

The top ten states with the most reported FDI from Indian companies were Texas (USD 9.8 billion), Georgia (USD 7.5 billion), New Jersey (USD 4.2 billion), New York (USD 2.1 billion), Massachusetts (USD 1.4 billion), Kentucky (USD 908 million), California (USD 776 million), Maryland (USD 720 million), Florida (USD 711 million) and Indiana (582 million).

According to the report, 85 per cent of the companies plan to make more investments in the United States in the next few years and 83 per cent of the companies plan to hire more employees in the US in the next five years.