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Contribution of Indian Industry to the US Economy - An Update
2004-09 |
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IBEF brings the first update of the study 'Contribution of Indian Industry to the US Economy'. The update includes a comprehensive analysis of the top six verticals of Indian industry that contributed to the US economy during the period 2004 to 2009. |
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| As per the findings of the update, Indian industry contributed USD 153 billion to the US economy and supported as many as 314,000 jobs over the period 2004-2009. |
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| An important highlight of this study has been the role that the Indian industry has played during the recessionary period of 2008-09. Contrary to conventional belief, where organisations are considered to defer investment decisions during a slowdown, Indian corporations have been known to go ahead and commission both greenfield and brownfield projects in the US. In fact, Indian companies have not only contributed by way of increased investments in the United States, but also in terms of creation of employment opportunities for local communities. |
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| Automotive, aviation, gems and jewelry, IT/ITeS, metals and pharmaceuticals are the sectors where Indian industry has contributed the maximum to the US economy. In particular, IT/ITeS, aviation and metals stand out.For the sectors under purview, the study reveals the ability of Indian firms to execute projects under tough economic situations. A good example is that of the Indian metals sector, which in spite of being a capital intensive industry, has seen companies operating in this domain commission greenfield facilities in the US. |
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