Indian Companies Invest $40 Billion in US, Support 70,000 Direct Jobs: US Embassy

US Treasury Secretary Scott Bessent met Indian Finance Minister Nirmala Sitharaman on the sidelines of the G20 Finance Ministers and Central Bank Governors’ meeting. Following the meeting, the US embassy in India announced in a statement on the social media platform X that Indian companies have invested $40 billion in the US and support more than 70,000 direct American jobs.

The significant statistics shared by the US embassy track the direct employment created by Indian companies. However, organisations like the Confederation of Indian Industry suggest the total footprint, including indirect employment, spans over 4,25,000 jobs across all 50 states. The primary sectors include Pharmaceuticals, Information Technology, Advanced Manufacturing and Energy.

In Asheville, Nirmala Sitharaman invited US Treasury Secretary Scott Bessent to New Delhi later this year for the Economic and Financial Partnership, as the two nations remain committed to deepening their partnership across various areas, including critical minerals. Bessent appreciated India’s role in G7 plus and its participation in G7-led critical mineral dialogues aimed at sharing research and technology and securing the supply chain.

Meanwhile, US envoy Sergio Gor, speaking at the Automotive Component Manufacturers Association of India (ACMA), said that the US and India should strengthen supply-chain resilience by working together during disruptions and ensuring production continues.

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“India-US ties stand at a ‘historic high-point.’ Both govts working closely to build a fair, reciprocal and mutually-beneficial trade relationship,” said Gor. He also called for an environment that allows American suppliers and technology to access the Indian market, while enabling Indian companies to compete fairly in the US. Gor further urged Indian firms to explore investments in the US across manufacturing, R&D and distribution.