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India Inc's deals to create 7 lakh jobs in US

Source: PTI
November 08, 2010 08:26 IST
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Industry body CII on Sunday said sourcing of infrastructure equipment, nuclear hardware and military aircraft from the US by India could create over seven lakh jobs in America in the next ten years.

A CII survey of member firms with operations in the US clearly shows that Indian business is now engaged across a wide spectrum of sectors in America, and not just IT and ITeS.

The Report, 'India - A Growth Partner in the Indian Economy', estimates that, "India sourcing of US military and nuclear hardware and civilian aircraft could create over 700,000 jobs in the US over the next ten years."

On Saturday, US President Barack Obama had announced $10 billion worth of deals between Indian and US companies, including a $2 billion equipment order from Anil Ambani Group firm Reliance Power and the purchase of 30 Boeing 737 aircraft by low-cost carrier SpiceJet.

These deals would create more than 50,000 jobs in the US.

The report also said that Indian firms operating in the US have been aggressively hiring US workers and a large majority of the workforce for their America operations were local citizens.

It further said that Indian firms having operations in the US are actively engaged as stakeholders in community development programmes for development of libraries, health research and imparting skills to college graduates.

"These examples of deep integration... show that Indian business is in the US for the long-term and see themselves as partners in the resurgence of the US economy," CII Director General Chandrajit Banerjee said.

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