Indian Companies' investment create million jobs in US - CII's 'Indian Roots, American Soil' report claim

Washington – Air India will buy around 220 passenger planes from Boeing Company in the US. The US President stated that this would create as many as one million jobs in the United States. Not even three months have passed, and more information seems to emerge about the benefits to the US due to the investment of Indian companies. 163 Indian companies have invested about 40 billion dollars in the US, creating 425,000 jobs in the US. This has revealed that while unemployment in the US rose, Indian companies’ investment benefited the US economy.

The Confederation of Indian Industry-CII published a report titled ‘Indian Roots, American Soil’ on Wednesday. Ambassador of India to the United States, Taranjit Singh Sandhu, and US Ambassador to India, Eric Garcetti, attended the event. Almost 163 Indian companies have invested as much as 40 billion dollars in the US. This has created 4.25 million jobs in the US. Also, under Corporate Social Responsibility (CSR), Indian companies have spent 185 million dollars in the US. Ambassador Taranjit Singh Sandhu informed that Indian companies had invested about one billion dollars in the US for research and development.

This investment by Indian companies has made the US more powerful, and this has further increased the competitiveness of the US. Due to this, along with the creation of jobs, the local American community receives substantial support from Indian companies, and this has added to their prosperity, claimed Ambassador Sandhu. He further said that Indian companies have also been linked to educational institutes and universities in the US. India believes in sharing its success with all, Sandhu added. Ambassador Sandhu claimed that Indian companies in the US have been implementing this strategy by involving others in their success.

India has emerged as a centre of attraction for investors worldwide. Due to this, the flow of foreign direct investment in India continuously increases. However, a report by ‘Indian Roots, American Soil’ has revealed that India is not only a country that accepts investment, but Indian companies have also been investing in the US, a superpower.

The unemployment rate in the US has been rising alarmingly. As the prospect of an economic recession looms, American companies have adopted a cutback policy and laid off many employees. Due to this, the problem of unemployment has become fiercer and is considered the biggest crisis facing the American economy. In such a situation, the investment of Indian companies in the US and the resulting employment generated has benefited the US, at least to some extent. Due to this, the claim made by American diplomats and economists that India’s economic progress was in the interest of the United States seems to be coming true.

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