Washington, May 5 (PTI): Indian companies on Tuesday announced USD 1.1 billion investments in the US spanning aerospace, defence, energy and artificial intelligence sectors.
The announcement was made at the SelectUSA Investment Summit at National Harbour in Maryland near here.
“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 here.
He said these investments span aerospace and defence, energy, advanced manufacturing, and artificial intelligence.
The Indian investments announced on Tuesday will lead to the creation of 1,500 jobs in the US.
Abhyuday Group announced the largest investment amounting to USD 900 million to set up manufacturing clusters in five states across the US.
Mumbai-based Sterlite Technologies Limited announced a new greenfield factory investment of up to USD 100 million in the US to offer connectivity solutions, including terminating optical fibre cables.
PR Jindal Group announced an investment of USD 87 million in Texas and Mississippi.
Jivo Wellness Group, based in Delhi, announced an investment of USD 15 million to set up a manufacturing plant in the US.
TechDome Solutions, a technology firm based in Indore, announced an investment of up to USD 75 million that will create 100 jobs in the US over the next five years.
Chennai-based Atri AI, which builds edge AI systems for real-time intelligence intends to invest approximately USD 2 million over the next 2-3 years to build its engineering, sales, and technology operations in the US.
Magno Innovation from Kerala, which develops aerial drones and geospatial intelligence platforms for the oil and gas industry, plans to establish a US field operations base with an initial investment of USD 2 million.
Satori XR team from Chennai set up their US headquarters in Michigan and plans to invest USD 1.5 million over the next five years and create 20 to 25 new high-quality jobs across engineering, enterprise sales, marketing, and customer management.
Roche AI from Kerala, which builds physical AI and industrial autonomy systems for industrial applications, plans to establish their first US presence in Texas by investing USD 5 million. This will create up to 20 engineering and customer support roles.
Polyhose Inc., a global manufacturer of high-quality industrial hoses and fittings, plans to expand US operations with an investment of USD 2 million in a facility in Los Angeles.
KISSFLOW from Chennai is a B2B software offering, an AI-powered low-code platform, which will be making an investment of USD 2 million in a facility in Houston to support the energy sector.
The Indian Institute of Technology Madras Global Research Foundation plans to set up a US location in California to drive research collaboration with US universities and colleges. This will be a soft landing pad for IIT and global startups, and provide seminars and classes in the US for USD 4.5 million. PTI SKU GRS GRS GRS
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