Indian companies hiring – and hiring – in America

WASHINGTON, D.C. — Indian corporate investment in American enterprises has generated hundreds of thousands of U.S. jobs, despite widespread impressions about company outsourcing, according to a report released by the Confederation of Indian Industry (CII). Bolstering its findings with facts and figures in a state-by-state breakdown, the Nov. 14 release of “Indian Roots, American Soil” on Capitol Hill was the result of 100 Indian companies’ responses to a CII survey.

Companies also provided data regarding their corporate social responsibility (CSR) and research and development expenditures, which totaled $147 million and $588 million, respectively. According to the report, some 100 Indian companies created more than 100,000 jobs and $17.9 billion in investments across all 50 U.S. states, as well as Washington, D.C. and Puerto Rico.

More than a dozen lawmakers, from both the Senate and the House were on hand for the study’s release as were the Ambassador of India to the U.S., Navtej Sarna, Deputy Chief of Mission, Santosh Jha; and representatives of 25 Indian companies with active investments and operations in the U.S.

According to the CII report, New Jersey, Texas, California, New York and Georgia were home to the most number of workers in America directly employed by Indian companies, while New York, New Jersey, Massachusetts, California, and Wyoming had the highest foreign direct investment (FDI) from Indian companies.

“Indian industry and professionals are making significant contributions to the U.S. economy — I am delighted that this fact is being recognized today at the CII event on Capitol Hill,” said Sarna.

“The presence and reach of Indian companies continues to grow each year as they invest billions of dollars and create jobs across the United States. He said the study “highlights Indian industry’s ascension as a significant stakeholder in the U.S. economy. This is a critical component of our strong and vibrant bilateral relationship with the U.S, which continues to flourish in strategic terms as well.”

Some key findings were:

·Together 100 Indian companies employ 113,423 people across 50 states, the District of Columbia and Puerto Rico.

· The total value of tangible investments made by these 100 companies exceeds $17.9 billion.

·The top five states in which Indian companies have generated maximum employment are: New Jersey (8,572 jobs), Texas (7,271 jobs), California (6,749 jobs), New York (5,135 jobs) and Georgia (4,554 jobs).

· The top five states in which Indian companies have contributed the highest foreign direct investment are: New York ($1.57 billion), New Jersey ($1.56 billion), Massachusetts ($931 million), California ($542 million) and Wyoming ($435 million).

·The average amount of investment received from Indian companies per state/territory is $187 million.

· 85 percent of the companies plan to make more investments in the United States.

· 87 percent of the companies plan to hire more employees locally in the next five years.

The CII report said that the survey respondents represented diverse sectors including pharmaceuticals and life sciences, telecommunications, aerospace and defense, financial services, healthcare, materials and manufacturing, tourism and hospitality, engineering and construction, automotive, food and agriculture, energy and information technology.

Chandrajit Banerjee, CII’s director general, said that “CII is proud of its flagship biannual initiative because through this survey report and this event on Capitol Hill, we are able to highlight the best of Indian industry in the United States — their positive contributions to the U.S. economy and society.” He said the investments, job creation, CSR and skill-building initiatives have an immediate and visible multiplier effect on communities where the business are.

“The story of Indian investment in the U.S. is one that showcases how intertwined we are as nations that contribute to each other’s success,” Banerjee said. He said CII was optimistic about the growth of the U.S.-India business and strategic partnership.

Rep. George Holding (R-N.C.), cochair of the Congressional Caucus on India and Indian Americans, said such investment strengthens the two nations’ bonds.

Rep. Tulsi Gabbard (D-Hawaii), cochair of the India Caucus, called it “an exciting time for the U.S. and India…The centerpiece and the strong foundation of that relationship has always been centered around growth of trade and commerce between the two countries. Indian companies have not only added value to the U.S. economy but are investing in American communities as well.”

Rep. Ami Bera (D-Calif.) echoed former President Barack Obama’s words, calling the U.S.-India relationship a defining partnership of the 21st century. “I truly believe that,” he said. “We just walked off the House floor voting for our Defense Authorization Act, and in that there’s a paragraph talking about India becoming a Major Defense Partner.”

There are numerous unique opportunities for American and Indian companies to work together, he said. And now that India seeks to buy U.S. military hardware, defense legislation that acknowledges India as a Major Defense Partner will facilitate that “looking at the export control regime on our end,” he said.

Noting that Indian firms are among the fastest-growing investors in the U.S., Sen. Chris Van Hollen (D-Md.), said “as the partnership between the United States and India deepens, so too do our economic ties.” He praised the CII for its role toward that.

“I am glad to see the principles of free market economics being celebrated today on Capitol Hill as we recognize the contributions Indian Industry have brought to the US economy and states,” said Rep. David Brat (R-Va.). He noted that in the CII survey “Indian companies in Virginia have invested over $37 million in my state, and I can only hope that they will continue to invest in Virginia and that our engagement with these companies will continue to grow.”

Noting the report’s findings on her own home state — the second-highest number of jobs created — Rep. Sheila Jackson Lee (D-Texas) said: “R&D and CSR initiatives being undertaken shows that these companies are truly part of the social and economic fabric of the U.S. and have put down roots and are growing with our communities.”

Rep. Pete Sessions (R-Texas) credited President Donald Trump for the continuing relationship between Washington and New Delhi and credited reforms by Prime Minister Narendra Modi for opening doors to broader U.S. business investment in India.

“As the son of immigrants and an advocate for a strong middle class, I hope that Indian companies continue to put down roots and invest in our state, as our economy and community are strengthened by their engagement with us,” said Rep. Raja Krishnamoorthi (D-Ill.)

Ravi Kumar, president and deputy COO, Infosys, said his company’s collaboration with an American company goes back nearly four decades, noting “we have worked to boost American innovation ever since.

Earlier this year, we announced plans to hire 10,000 American workers over the next two years, partnering with local colleges and universities to shrink the IT skills gap in the U.S., and are focused on upskilling and reskilling workers seeking to grow their careers in computer science.”

Part of this effort, he said, is Infosys Foundation USA which increases access to high quality computer science education and coding skills with a focus on underrepresented communities in the U.S.

He said that since 2015 the foundation’s work has benefitted more than 4.7 million students, 13,000 teachers and 21,000 schools in the U.S.