Refuting allegations that foreign tech workers take away jobs from US professionals, a new report said Indian tech industry contributed nearly 411,000 jobs to the US economy this year….reports Arun Kumar from Washington
Refuting allegations that foreign tech workers take away jobs from US professionals, a new report Monday said Indian tech industry contributed nearly 411,000 jobs to the US economy this year.
The Indian tech industry also helped American firms to bring better, innovative, cost-competitive solutions to improve their global market, said the report by India’s National Association of Software and Services Companies (Nasscom).
Titled “Contributions of India’s Tech Industry to the US Economy”, the report was released by Indian Commerce Minister Nirmala Sitharaman here Monday ahead of the first Indo-US Strategic and Commercial Dialogue.
“Leveraging Indian talent, American firms have been able to bring better, innovative, cost-competitive solutions that have helped improve their global market share and bring products with shorter production cycles,” Sitharaman said.
Other benefits brought by Indian IT organisations to the US included $2 billion in investments and touching more than 120,000 American lives through philanthropic work.
“Indian tech industry alone has invested over $2 billion and paid over $20 billion in US federal, state and local taxes – while also supporting 410,000 plus jobs in America,” said Nasscom president R. Chandrashekhar.
On allegations of foreign tech workers hindering employment opportunities for local professionals, the report noted that unemployment of tech professionals in the US is half as compared to the national average.
Refuting another charge that foreign talent was hired at lower salaries, the report said Indian tech industry pays equivalent wages to the US national and foreign workers.
The Nasscom report noted that due to skill shortages, unemployment in the US tech sector is historically lower than the national average.
The current shortage of skilled talent is expected to continue to grow and result in shortfall of 445,000 computer professionals by 2022, it said.
India’s IT sector also provided operational support to over 90 percent of Fortune 500 firms and thousands of other American businesses helping make their US customers more innovative, competitive, primed for new markets, and eager to expand jobs, he said.
California, Texas, Illinois, New Jersey and New York are the top five American states where Indian IT companies have supported direct jobs, the report said.