163 Indian companies invested USD 40 bn in US; created 425K jobs: Report
Washington, May 4 (PTI) 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.
“Indian companies in the US bring strength, resilience and competitiveness to the US. They create jobs, support the local communities, and build capacity and technical know-how. They create virtuous cycles of prosperity,” Sandhu said in his address in the presence of a large number of representatives of Indian companies who are currently in the city to attend the Select USA Summit.