By Lalit K JhaWashington, Nov 15 (PTI) Indian companies have createdmore than 113,000 jobs in the US and invested nearly USD 18billion in the country, according to an annual report whichgives state-by-state breakdown of the tangible investmentsmade and jobs created by 100 Indian firms doing business inAmerica and Puerto Rico.
The report titled 'Indian Roots, American Soil', whichwas released by Confederation of Indian Industry (CII)yesterday, states that Indian companies have also contributedUSD 147 million towards corporate social responsibility andUSD 588 million as research and development expenditures inthe US.
Together, 100 Indian companies employ 113,423 peopleacross 50 states, the District of Columbia and Puerto Rico,the report said, adding that the total value of tangibleinvestments made by these companies exceeds USD 17.9 billion.
The top five states in which Indian companies havegenerated maximum employment are New Jersey (8,572 jobs),Texas (7,271 jobs), California (6,749 jobs), New York (5,135jobs) and Georgia (4,554 jobs).
According to the report, the top five states in whichIndian companies have contributed the highest foreign directinvestment are New York (USD 1.57 billion), New Jersey (USD1.56 billion), Massachusetts (USD 931 million), California(USD 542 million) and Wyoming (USD 435 million).
The average amount of investment received from Indiancompanies per state/territory is USD 187 million, the reportsaid, noting that 85 per cent of the companies plan to makemore investments in the US.
As many as 87 per cent of the companies plan to hire moreemployees locally in the next five years.
Indian industry and professionals are making significantcontributions to the US economy, said Indian Ambassador to theUS Navtej Sarna.
"The presence and reach of Indian companies continue togrow each year as they invest billions of dollars and createjobs across the United States," he said.
Chandrajit Banerjee, CII director general said the storyof Indian investment in the US is one that showcases howintertwined the two countries are that contribute to eachother's success.
Indian firms are among the fastest growing investors inthe US, contributing to growth and job creation in the USeconomy, said Senator Chris Van Hollen.
As the world's oldest democracy and the world's largestdemocracy, a strong US-India partnership is vital for the 21stcentury, said Congressman Ami Bera.
The friendship between the United States and India hascontinued to grow under President Trump's administration, saidCongressman Pete Sessions.
Indian businesses have brought hundreds of millions ofdollars and thousands of jobs to Texas and, at the same time,the reforms led by Prime Minister Modi have opened doors forAmerican companies to expand their operations in India, hesaid.
"I am glad to see, as CII's event today proves, bondsbetween our nations – both commercial and strategic - continueto grow stronger," Sessions said.
"According to CII's survey, Indian companies in Virginiahave invested over USD 37 million in my state, and I can onlyhope that they will continue to invest in Virginia and thatour engagement with these companies will continue to grow,"said Congressman David Brat.
In addition to spurring economic activity, particularlyin North Carolina, this type of investment serves tostrengthen the bond between our two countries, saidCongressman George Holding.
The report shows that Indian companies have invested overUSD 195 million in the state of Illinois, and created over3,800 jobs, said Congressman Raja Krishnamoorthi.
"I hope that Indian companies continue to put down rootsand invest in our state, as our economy and community arestrengthened by their engagement with us," he said.
"As the largest India-headquartered multinational inNorth America, the Tata Group has had operations andinvestments in the US market for many decades," said JamesShapiro, resident director North America of Tata Sons Ltd.
Ravi Kumar, president and Deputy COO, Infosys said hiscompany began working with its first US client over 35 yearsago and, have worked to boost American innovation ever since.
"Earlier this year, we announced plans to hire 10,000American workers over the next two years, partnering withlocal colleges and universities to shrink the IT skills gap inthe US, and are focused on upskilling and reskilling workersseeking to grow their careers in computer science," he said.
The work of Infosys Foundation USA has benefited over4,700,000 students, 13,000 teachers and 21,000 schools acrossall 50 states in America since 2015, he asserted. PTI LKJ MRJAJR.
This is unedited, unformatted feed from the Press Trust of India wire.