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Kolkata: Indian companies are making huge investments in the US. On Tuesday, May 5, Indian companies have announced investments cumulatively worth $1.1 billion in different sectors such as aerospace, defence, energy and artificial intelligence sectors. “We have 12 Indian companies making investment announcements at this summit, totalling more than USD 1.1 billion. That is the largest number of announcements we have seen from a single delegation at SelectUSA,” US Under Secretary of Commerce for International Trade William Kimmitt said, according to PTI report.

More than $20 bn investment

“Under President Trump’s leadership investment is flowing back into the United States at record levels! Indian companies plan to invest over $20.5 billion in various sectors including tech, manufacturing, and pharmaceuticals. This includes the 12 Indian companies who announced $1.1 billion in investments just today! These partnerships are creating REAL American jobs and building STRONGER supply chains. Proof that when the world’s largest democracies do business together, everyone wins,” is what Ambassador Sergio Gor wrote on his X handle.

Indian firms investing in the US

The investments that Indian companies have proposed in the US on Tuesday are expected to generate employment for 1,500 individuals. Among the companies investing in the US are Sterlite Technologies, Abhyuday Group, PR Jindal Group etc. The biggest investment will be done by Abhyuday Group. It will amount to $900 million and will set up manufacturing clusters in five states in the US. Mumbai-based Sterlite Technologies has also announced a new factory for an investment up to $100 million. This will be in optic fiber cables. PR Jindal Group will invest $87 million in Texas and Mississippi.