India Inc's Growing Investment in the US: $16.4 Billion Commitment and 70,800 New Jobs

US Welcomes Indian Investment, Cites Job Creation and Economic Growth

US Deputy Undersecretary for Policy and International Trade Administration, Brandon Remington, addressed a CII India Reception at the SelectUSA Investment Summit in Maryland on Monday evening. Remington highlighted the significant contribution of Indian firms to the US economy, citing foreign direct investment from India of approximately USD 16.4 billion.

This investment has supported approximately 70,800 jobs in the US, with Indian firms also spending USD 330 million on research and development in America. According to available cumulative data, the total stock of foreign direct investment from India to the United States was approximately USD 16.4 billion, which supported approximately 70,800 jobs, USD 313 million in research and development spending and USD 1.5 billion worth of exports.

A recent report by the Confederation of Indian Industry (CII) released in 2023 estimated that Indian investments in the US had reached USD 40 billion, resulting in the creation of 4.25 lakh jobs. The report also noted that Indian companies invested USD 1 billion in US-based research and development projects and contributed USD 195 million to corporate social responsibility projects.

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The growing presence of Indian companies in the US was underscored by the recent announcement of Sun Pharmaceutical Industries Ltd's USD 12 billion deal to acquire New Jersey-based Organon & Co. Nearly a dozen Indian companies are scheduled to make fresh investment announcements at the SelectUSA Investment Summit on Tuesday.

A host of US officials and business leaders attended the CII India reception, including Delaware Governor Matt Meyer, Guam Governor Loun Leon Guerrero, and Maryland Lt Governor Aruna Miller. Indian companies are making a significant contribution to the US economy, bringing in capital, supporting jobs, strengthening supply chains, and contributing to communities across states, according to Namgya Khampa, Deputy Chief of Mission in the Indian Embassy.

The top three states with the most reported FDI from Indian companies were:

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According to the CII report, Indian companies are supporting hundreds of thousands of jobs across the US, including in the Maryland-DC area, in sectors such as advanced manufacturing, pharmaceuticals, energy, and many more.