A remarkable story that has often escaped public attention in the overall context of the vi-brant India- U.S. relationship is that Indian companies have been pouring investment dollars into businesses in the U.S. and cre-ating tens of thousands of Ameri-can jobs. A new report from the Confederation of Indian Industry and the accounting firm Grant Thornton reveals that not only is Indian investment in the U.S. large, it’s also extremely wide-spread and clearly growing.
The 100 Indian-based compa-nies surveyed for the study have
made an aggregate $15.3 billion investment in their U.S. operations. That, in turn, has created 91,000 jobs in the U.S., which by any measure is a substantial contribu-tion to the American economy. Those jobs are scattered through-out the country. In fact, the sur-vey found that Indian companies have a presence in all 50 states.
The U.S. isn’t just a favored destination for the time being; it is likely to remain attractive for In-dian investors for years. When asked if they plan to invest in the U.S. in the next five years, 84.5 percent of the Indian companies surveyed said yes. Only 4 percent said no. Asked if they plan to hire
more employees locally in the U.S. over the next five years, 90 percent of the companies an-swered in the affirmative.
The survey also challenges the greatest stereotype about the kinds of Indian companies in the U.S. They are not all information technology companies. Far from it. In the U.S., IT comprises 40 per-cent of Indian-company invest-ment, according to the survey. The rest is highly diversified. Life sciences, pharmaceuticals and health care companies make up 14 percent of Indian investment here. Another 14 percent are manufacturers and mining com-panies. 16 percent offer financial,engineering, construction and entertainment services. The re-mainder is companies in the au-tomotive, energy, hospitality and food businesses.