Indian tech companies employed 200K Americans

The Indian tech trade generated $103 billion in income and immediately employed 2,07,000 folks within the US final yr, with a median wage of $106,360 — witnessing a 22 per cent employment development since 2017, a brand new Nasscom report confirmed on Wednesday.

The direct affect of the Indian tech trade has helped the US economic system generate a complete of $396 billion in gross sales so far, supporting 1.6 million jobs and contributing over $198 billion to the American economic system — bigger than the mixed economies of 20 US states in 2021, in accordance with report by Nassom and IHS Markit (now a part of S&P world).

“The Indian tech sector works with more than 75 per cent of the fortune 500 companies, most of them headquartered in the US and is therefore well equipped to understand and meet the critical skill challenges of the digital age,” stated Debjani Ghosh, President, Nasscom.

The Indian expertise firms have contributed over $1.1 billion and developed partnerships with almost 180 universities, schools, group schools, and others to strengthen and diversify the STEM pipeline within the US.

It additionally has supplied over $3 million extra for simply Okay-12 initiatives. These efforts have touched over 2.9 million college students and academics so far within the US.

In addition, over 2,55,000 present workers have been upskilled by the sector, the Nasscom report famous. The Indian expertise trade within the US has performed a big function in increasing the expertise pool exterior of conventional tech hub states.

This has contributed to a few of these states, similar to North Carolina, changing into emergent tech hubs.

Over the final decade, these states have grown their employment fee by 82 per cent, making outsized contributions notably in states which have under US common concentrations in IT expertise, in accordance with the report.

“The Indian technology Industry makes critical contributions to the US economy through local investments, fuelling innovation and the labour force, and enabling skill development for the local workforce,” stated Ghosh. News NCR