According to an ET report, India is the second-largest foreign direct investor in New Jersey, and a significant portion of the state’s immigrant population is of Indian origin.
Sandeep Kalra, CEO of Persistent Systems, Srini Pallia, the new CEO of Wipro,, and Sudhir Singh, CEO of Coforge, all reside in New Jersey. Recently, HCLTech, the third-largest Indian IT service major, inaugurated its East Coast headquarters in the state. Over the past two years, three of the top six Indian IT firms have expanded their presence in New Jersey.
Indian IT in New Jersey
According to Avinash Vasishtha, an IT and Technology globalisation expert and chairman of Tholons, “Because New York is a very expensive place, people coming from India and even IT companies find their home in the Newark area.” He also noted that the proximity to New York allows companies to cover the entire US due to superior flight connectivity from New York.
Peter Bendor-Samuel, chief executive officer of Everest Group, explained that New Jersey is a natural choice for headquarters due to its proximity to New York, which has the most Fortune 500 headquarters in the world and is the centre of finance and banking.
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The state offers a more affordable alternative to the Big Apple while still providing excellent infrastructure, such as airports, and access to important clients.
“Finally, the new and upcoming CEOs such as Wipro’s Srini are already located in NJ,” he added.
In March 2021, Wipro announced the opening of its Americas Headquarters in East Brunswick, New Jersey, and in 2022, Tata Consultancy Services announced the expansion of its operations in the state, hiring nearly 1,000 additional employees.