Indian companies are stepping up their spending in the US.
According to a report by the Confederation of Indian Industry (CII) and Grant Thornton (pdf), an audit and consultancy firm, 100 Indian firms have so far invested over $15.3 billion (Rs97,139 crore) across the US, creating more than 91,000 jobs.
These jobs are mainly in the IT sector, but also in healthcare, manufacturing, and financial services, among others.
“The results of the survey point toward a particularly positive trajectory, with companies growing increasingly diversified and geographically dispersed across the length and breadth of the country,” the report said.
Over the years, investments in the US from India have been growing steadily. In the last five years, China’s investments in the US have grown the fastest, while India is the fourth fastest growing source of foreign direct investment (FDI).
Additionally, according to the World Investment Report 2015, the US ranks third in the list of top ten host economies for FDI inflows in the world, while India ranks ninth.
Based on the CII study, the American states with the largest concentration of Indian companies were New Jersey, California, New York, Pennsylvania and Illinois.
Here’s a chart that shows the top five states that received the most investments from Indian companies.
And all these investments have created thousands of jobs. Here’s where Indian companies have generated the most employment:
According to the report, Indian investment in the US is poised to grow even further. Over 84% of the companies surveyed said they expect to invest even more in the US in the next five years.