|
Washington: Indian
companies operating in 40 American states have invested over $820
million in manufacturing facilities in the US, creating thousands
of jobs, according to the 2012 India Business Forum (IBF) survey.
The survey "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,
highlights the significant economic and social impact made by
Indian companies on American communities.
The reception 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, director and head, CII.
Key findings:
* 70 percent of surveyed companies have increased the number of
employees since 2005, despite the US economic downturn;
* More than 34 percent of the surveyed companies have established
manufacturing facilities in the US, investing more than $820
million in those facilities;
* Since 2005, the surveyed companies have collectively conducted
72 mergers and acquisitions in the US, saving, creating and
sustaining thousands of jobs;
* Their collective revenues for 2010-2011 were more than $23
billion
* Projected research and development investments of the surveyed
companies are estimated to be over $190 million in 2012 alone; and
* Nearly 65 percent of companies surveyed engage in Corporate
Social Responsibility (CSR) initiatives,
* These include programmes that support 27 universities, community
colleges and high schools in developing curriculum, establishing
training programmes and encouraging
Science-Technology-Engineering-Mathematics (STEM) education.
CII's survey respondents, consisting of 36 Indian companies,
represent sectors including education, financial services,
healthcare pharmaceuticals and life sciences, information
technology, manufacturing, media and telecommunications.
(Arun Kumar can be
contacted at arun.kumar@ians.in)
|
Comments
|
Quick links