A consortium of Indian businesses have announced $1.1 billion in investments in the US across a variety of industries, including advanced manufacturing, artificial intelligence, energy, defense, and aerospace. The announcements were announced during the Maryland-based SelectUSA Investment Summit.
With projects anticipated to create about 1,500 employment, this represents the highest number of investment commitments from a single Indian delegation at the summit, according to US officials.
With a $900 million plan to create industrial clusters in five US states, the Abhyuday Group will spearhead the investments. The PR Jindal Group has contributed $87 million, and Sterlite Technologies plans to invest up to $100 million in a greenfield site.
TechDome Solutions, Atri AI, and Kissflow are further contributors with an emphasis on industrial innovation, technology, and AI.
The investments show how India and the US are becoming closer economically and how Indian businesses are expanding internationally.
Source – The Economic Times
