India invested over $26 billion and created 60,000 jobs in US: study
16 Jun 2010
India has invested over $26.6 billion in the US over the last five years thereby creating about 60,000 jobs, even as the country remained the third largest investor in the US, says a new study.
The investments included 372 acquisitions worth a total $21 billion by 239 Indian companies and 127 fresh investments worth $5.5 billion between 2004 and 2009, the report, `How America benefits from economic engagement with India,' released yesterday by Congressman Jim McDermott, said.
The 127 greenfield investments alone created 16,576 jobs in the US, according to the study.
The report is based on a joint study by the University of Maryland, India-US World Affairs Institute and the Federation of Indian Chambers of Commerce and Industry (FICCI).
Minnesota, Virginia and Texas emerged the top three destinations for green field investments while Ohio, Texas, and California were the top three states in terms of jobs created, the report said.
Bulk of the Indian investments were in the mining, manufacturing and other industries, while the software and IT services sector, received less than 15 per cent of the total investment, the report noted.
