100 Indian companies have generated employment for 91,000 people in US: Survey

According to a CII survey, the top five states in the US that have the highest concentrations of Indian companies are New Jersey, California, New York, Pennsylvania and Illinois.

The survey says Indian companies most prevalent in the US are from the following sectors: IT and IT-enabled services (IT-es); life sciences, pharmaceuticals and health care; mining, materials and manufacturing; design, engineering and construction; financial services; automotive; energy; media and entertainment; tourism and hospitality; and food and agriculture.

The emergence of a significant number of companies in the life sciences, manufacturing, and automotive sectors is a remarkable development as a major contributor to job creation, the survey noted.

The average amount of investment received from Indian companies per state is $433 million. The range of investment received by a state from Indian companies varies from a maximum of $3.85 billion to a minimum of $65,000.

Collectively, 100 Indian companies have generated employment
for over 91,000 people in the United States.

The top five states in which Indian companies have generated
maximum employment are: New Jersey (9,278 jobs), California
(8,397 jobs), Texas (6,230 jobs), Illinois (4,779 jobs) and
New York (4,134 jobs).

Further, in terms of regional economic analysis, the multiplier effect, which measures the linkages between different industry sectors within a region, is an important consideration and would significantly add a number of indirect and induced jobs in other industries, apart from the boost in jobs during the construction phase.

According to the data from the Reserve Bank of India, the United States features among the top five destinations for FDI from India.

Further, India ranked as the eighth fastest-growing source of FDI in the United States in 2013, according to SelectUSA, US Department of Commerce.

According to the survey, the top most promising states for expected future investment include California, New Jersey, New York and Texas.