Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » India
1-min read

India has invested $ 11 billion in US and created more than 100,000 jobs: Study

The contribution is expected to give a fitting reply to those who have been calling for a trade war between the two countries.

Press Trust Of India

Updated:July 7, 2013, 11:05 PM IST
facebookTwitter Pocket whatsapp
India has invested $ 11 billion in US and created more than 100,000 jobs: Study
The contribution is expected to give a fitting reply to those who have been calling for a trade war between the two countries.

Washington: Investment by Indian companies in the US has touched a record $11 billion and in the process has created more than 100,000 jobs, a study has revealed. The report, 'Investing in America, How India Helps Create American Jobs' by the US India Business Council demonstrating the ways the US economy is benefiting from the successful bilateral and business relationship with India, is slated to be released during the USIBC' 38th Anniversary Leadership Summit on July 11.

In October 2012, US Deputy Secretary of State William Burns had said that between 2000 to 2010, the Indian direct investment in America grew from $200 million to nearly $5 billion and that Indian firms have helped create some 50,000 jobs in the US.

However, according to the latest USIBC study, Indian investment in the US "recently touched $11 billion, with as many as 100,000 American jobs created." The contribution of Indian businesses in America is expected to give a fitting reply to all those who have been calling for a trade war between the two countries.

During a Congressional hearing in June, several US lawmakers and business and trade representatives had urged the Obama administration to impress upon India against what they alleged are protectionist measures that are discriminatory to the US businesses. To address such concerns and to protect the interest of Indian companies in the US, which helps American businesses remain competitive in the global economy, the USIBC has launched the Coalition for Jobs and Growth (CJG).

"USIBC supports the free movement of technical professionals. This freedom of movement is essential to US job creation, and is at the heart of our future economic prosperity," USIBC President Ron Somers, said at the time of the launch of the coalition in June. "USIBC endorses immigration reform, but the legislation as currently written restricts a company's ability to source skilled talent, which hamstrings American competitiveness," Somers added.

The USIBC-led Coalition for Jobs and Growth believes that an open American economy helps give the United States the influence it needs to ensure that other economies stay open as well, it said.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results