Citing a report on U.S.-India economic engagement, Secretary Clinton said yesterday that since 2004, India's U.S. acquisitions have supported 40,000 American jobs. In her remarks at the U.S.-India CEO Forum with Indian Finance Minister Pranab Mukherjee, she said (about 2:45 into the video above):
[L]ast
week Congressman Jim McDermott unveiled a report by the India-U.S. World
Affairs Institute showing that … since 2004 Indian acquisitions in the United States
have supported approximately 40,000 jobs here in our country, with
manufacturing exports to India linked to another 96,000 jobs. That's
great progress and it's a solid base on which to build.
According to the report's executive summary, the 40,000 numbers is a very low-end estimate. Clinton probably should have said "more than 40,000 jobs." From the executive summary:
During 2004-2009, 239 Indian companies made 372 acquisitions in the United States.…
[W]e were able to obtain the numbers of jobs created/saved for only 85 transactions, which came to over 40,000 jobs. (The total number of jobs created or saved by all 372 transactions must be much higher).
Who knows how accurate the report is, but it sounds like Clinton is encouraging free trade in order to "foster the kind of inclusive growth that lifts people out of poverty and
strengthens our democracies."
COMMENTS (0)
