Indian companies invest Rs820 mn in US manufacturing: Survey
27 Apr 2012
A survey reveals that Indian companies operating in 40 US states have invested over $820 million in manufacturing facilities in America, creating thousands of jobs.
The economic and social impact of the investments made by Indian companies is detailed in the survey titled Indian Roots, American Soil: Adding Value to US Economy and Society, released by the Confederation of Indian Industry (CII) at a reception on Capitol Hill Wednesday.
The reception to the event marking the release of The 2012 India Business Forum (IBF) survey was attended among others by the four co-chairs of the India Caucus on the Senate and House side: senator John Cornyn, senator Mark Warner, Congressman Joseph Crowley and Congressman Ed Royce.
"The rapidly expanding India-US trade and economic engagement provides a key underpinning to the strategic partnership between our two countries," said Nirupama Rao, India's ambassador to the US.
"Our aim, through the India Business Forum, is to highlight the range and depth of Indian investments in the United States and also to try and dispel some of the misconceptions associated with Indian companies," said Sandhya Satwadi, regional director, CII.
Among the key findings was that 70 per cent of companies surveyed had increased the number of employees since 2005, despite the US economic downturn.
