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Indian firms invest $15 bn in US, employ over 90,000

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Washington: India-based companies have invested over $15 billion across the US, creating an estimated 91,000 jobs, according to a new report released by the Confederation of Indian Industry (CII) and Grant Thornton (GT).

New Jersey, California, Texas, Illinois and New York are home to the most Americans directly employed by Indian companies, according to the report, “Indian Roots, American Soil” released here Tuesday at an event on the Capitol Hill.

Texas, Pennsylvania, Minnesota, New York, and New Jersey have the highest foreign direct investment (FDI) from Indian companies, says the report which for the first time provides a state-by-state breakdown of tangible investments made by Indian firms.

The event highlighting the contributions of Indian companies to the US economy was attended by several members of the US Congress and a delegation of CII member-company CEOs from India.

“Today Indian companies are not just investing and creating jobs, they have also become significant stakeholders in the growth and prosperity of their local communities,” said Indian Ambassador Arun. K. Singh.

“The CII study draws attention to the growing contribution and influence of the Indian industry, which forms an important component of our growing and vibrant relationship with the United States,” he said.

“As India surges forward to become the fourth fastest growing source of FDI into the US, it is critical that we recognize the positive impact of Indian business investments in the country,” said Senator Mark Warner, Democratic co-chair of Senate India Caucus.

“I believe that growing the economic partnership between India and the US will benefit both economies,” said Ami Bera, the only Indian American currently serving in Congress and co-chair of the Congressional Caucus on India and Indian Americans.

“The Indian American community and Indian American business owners have been a critical part of the economic and social fabric of the nation,” he said.

Highlights:

* Together, 100 Indian companies employ more than 91,000 people across 35 states and the Washington DC, the American capital.

* The total value of tangible investments made by these 100 companies exceeds $15.3 billion.

* The top five states in which Indian companies have generated maximum employment are: New Jersey (9,278 jobs), California (8,937 jobs), Texas (6,230 jobs), Illinois (4,779 jobs) and New York (4,134 jobs).

* The top five states in which Indian companies have contributed the highest foreign direct investment are: Texas ($3.84 billion), Pennsylvania ($3.56 billion), Minnesota ($1.8 billion), New York ($1.01 billion) and New Jersey ($1 billion).

* The average amount of investment received from Indian companies per state is $443 million.

* 84.5 percent of the companies plan to make more investments in the US.

* 90 percent of the companies plan to hire more employees locally in the next five years.

Business

Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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