BENGALURU: Indian technology industry has generated $103 billion in revenue and directly employed over 2 lakh people in the US in 2021. According to Nasscom reports, released on Wednesday, the Indian tech companies in the US continue to grow their presence, and today is a vital part of the US economy’s innovation progress.
With an average wage of $106,360, it is seen a 22% of employment growth since 2017. The direct impact of the Indian tech industry has rippled through the US economy, generating $396 billion in US sales (output), supporting 1.6 million jobs and contributing over $198 billion to the US economy, which is larger than the combined economies of 20 US states in 2021, the reports said.
Debjani Ghosh, President, NASSCOM 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 over 75% of the fortune 500 companies, most of them headquartered in the US. The report added that these companies have contributed over $1.1 billion and developed partnerships with nearly 180 universities, colleges, community colleges, and others to strengthen and diversify the STEM pipeline in the US.