Donald Trump should be grateful instead of hostile to Indian companies for creating jobs in US

BT Online        Last Updated: November 15, 2017  | 14:59 IST
Donald Trump should be grateful instead of hostile to Indian companies for creating jobs in US

At a time when US President Donald Trump feels that the Indian IT companies are eating into American jobs, the Confederation of Indian Industry (CII) on Tuesday put out a report, saying that the Indian firms have created more than 113,000 jobs in the US and invested nearly USD 18 billion in the country. The CII report: 'Indian Roots, American Soil' also shows that Indian companies have also contributed USD 147 million towards corporate social responsibility and USD 588 million as research and development expenditures in the US.

According to the report, 100 Indian companies employ 113,423 people across 50 US states and the total value of tangible investments made by these firms crosses USD 17.9 billion.  The top five states in which Indian companies have generated maximum employment are New Jersey (8,572 jobs), Texas (7,271 jobs), California (6,749 jobs), New York (5,135 jobs) and Georgia (4,554 jobs).

The top five states in which Indian companies have contributed the highest foreign direct investment are New York (USD1.57 billion), New Jersey (USD1.56 billion), Massachusetts (USD931 million), California (USD542 million) and Wyoming (USD435 million). The CII report further said that the average amount of investment received from Indian companies per state/territory is USD 187 million. The latest CII report echoed the views of Union Minister Ravi Shankar Prasad who had last year said that Indian IT companies are not stealing American jobs but are in fact creating employment there.

Ravi Shankar Prasad while speaking to India Today said: "Our IT companies are an asset for the US. The American administration should know that our companies don't steal their jobs but they are creating jobs. We have conveyed our concern to the highest US authorities."

The Minister's response came in the backdrop of Donald Trump's commitment to tighten the US visa policies to cut down the number of IT professionals coming to America. The US President in the run-up to 2016 claimed that the Americans are living through the greatest jobs theft in the history of the world. He also said that the US companies were moving out jobs to countries like India, China, Mexico and Singapore.

After coming to power, the US President ordered federal agencies to look at tightening the H1B visa programme used to bring high-skilled foreign workers to the country. His decisions did not go well with Indian IT companies and some of the government officials. Trump is committed to bring back these 'lost jobs' by making an appeal to the US citizens to 'Buy American and Hire American'.   

(With inputs from PTI)

 

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