MUMBAI/NEW DELHI: This piece of information involving India's small entrepreneurs could embarrass Senator Barack Obama on the most crucial day of his political career. For all his criticism about Indian firms sucking up US jobs, one of America's top consulting firms has said on the contrary, Indian companies are creating more jobs in his country.
"Our estimate is that in 2007 alone, Indian firms that set up shop in the US through greenfield units or via acquisitions created no less than 65,000 jobs," said Federation of Indian Chambers of Commerce and Industry (FICCI) secretary-general Amit Mitra.
Ernst & Young has conducted a study called 'Report on Direct Investments in USA by Indian Enterprises' for the industry association. More interesting is the fact that nearly three-quarters of the companies that were shopping in the US were small and medium enterprises (SMEs) or midcap firms. Full Story
