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155 Indian companies account for $22 billion FDI in US
- One hundred fifty-five Indian-origin companies have investments over $22 billion in the US and have created nearly 125,000 jobs, revealed a new survey by the Confederation of Indian Industry (CII).
- Launched on June 16, the survey titled Indian Roots, American Soil 2020 also points to Indian investments having crossed $100 million in 20 US states.
- The CII survey also said over the next five years, 77 per cent of companies plan to beef up their investments in the US, while 83 per cent plan to hire more employees locally.
- US President Donald Trump has repeatedly pushed foreign companies based in the US to hire more American workers instead of outsourcing jobs to cheaper economies.
- The highest amount of foreign direct investment (FDI) by Indian companies headed to Texas — which commands a whopping 43.1 per cent of all investments — is at $9.5 billion.
- The other states that make up the top five investment destination for Indian firms are situated on the East Coast.
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