India sourcing of US military and nuclear hardware and civilian aircraft could create over 7,00,000 jobs in the US over the next 10 years, a Confederation of Indian Industry (CII) study has estimated.
The study titled India ? A Growth Partner in the US Economy ? reveals that Indian business is now engaged across a wide spectrum of sectors apart from IT and IT-enabled services. The survey also shows that Indian firms operating in the US have been aggressively hiring US workers.
The report says, ?While IT and ITeS sector might employ a higher proportion of Indian workers in their US operations, Indian investment in the US related to IT and ITeS has contributed to the competitiveness of the US industry in general. The study points that Indian investment in telecommunications, iron, coal and steel has also created significant number of jobs in the US.?
Apart from job creation, the firms have been actively engaged as stakeholders in community development. From participating in developing library programmes, health research, and imparting skills in college graduates. ?These examples of deep integration of these firms in the economic and social fabric of the communities in the US that they inhabit show that Indian business is in the US for the long-term and see themselves as partners in the resurgence of the US economy,? said Chandrajit Banerjee, director general, CII. Banerjee added the resurgence of the US economy is essential to the stability of the global economy and we are all stakeholders in that process.