Around 77 per cent of the companies plan to make more investments in the world’s largest economy and 83 per cent of the companies plan to hire more employees locally in the next five years. The CII survey respondents are from sectors including pharmaceuticals, telecommunications, aerospace and defense, financial services, manufacturing, tourism and hospitality.

Chandrajit Banerjee, Director General, CII, said: “The survey results show that the US is a preferred investment destination for Indian companies which are contributingsignificantly to supporting local jobs. The results in the survey capture a snapshot in time, documenting tangible investments and direct jobs only, so Ibelieve that the actual economic impact of Indian FDI in the US is much larger.”

He further said that it is critical that the US government continues to provide a supportive policy environment for Indian companies to flourish and enhance their operations in the US, especially to aid economic recovery at this time.