Indian Tech Cos Employ Over 2l In Us: Nasscom | India Business News

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BENGALURU: The Indian tech industry employed 207,000 people in the US, with an average wage of $106,360, in 2021, says a report by industry body Nasscom and US financial information company S&P Global.
The employment is a 22% increase over 2017.
The Indian tech sector, the report said, generated $103 billion in revenue from the US market in 2021. The report said that the impact of the Indian tech industry directly and by supporting their US client base through their projects has generated a total of $396 billion in US sales (output), supporting a total of 1.6 million jobs and contributing over $198 billion to the US economy – larger than the combined economies of 20 US states in 2021. Nasscom wasn’t available to explain exactly how these figures were arrived at.
The report said that the Indian technology industry in the US has played a significant role in expanding the talent pool outside of traditional tech hub states. This has contributed to some of these states, such as North Carolina, becoming emergent tech hubs.
Nasscom president Debjani Ghosh said, “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. The US today has one of the largest demand supply gaps as compared to other geographies. The Indian tech sector works with more than 75% 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.”
Ghosh said strategic collaborations between both the nations, industry partners and the academia will be the key to plug this demand-supply gap and create growth-oriented solutions that focus on building human capital to further enhance the US economy’s competitiveness globally.
The reports said demand for STEM occupations in the US is expected to grow 1.5 times faster than non-STEM occupations over the next decade. Around 70% growth in this demand is expected to be driven by IT occupations, which will account for 51% of STEM occupations by 2030. “In 2021, there were a total of 6 job postings for every 1 available computer and math worker in the US which has now become 11 open postings per available IT worker in 2022, leading to the widening of the global talent demand-supply gap. The Indian technology industry in the US is well positioned to close this STEM gap by putting emphasis on core skills and building foundational blocks to learning,” it said.
The Indian technology companies have developed partnerships with and contributed over $1.1 billion to nearly 180 universities, colleges, community colleges, and others to strengthen and diversify the STEM pipeline in the US.



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