Thread by @BiIndia

Indian #tech firms contributed nearly $200 billion to the US #economy, more than the combined economies of 20 US states

businessinsider.in/tech/enterpris…

By @Krittiiii

Indian #tech firms have spent $396 billion in US sales output. This supported 1.6 million jobs in total and contributed $198 billion to the US #economy, which is larger than the combined economies of 20 US states in 2021, according to a NASSCOM report.

The sector directly generated $103 billion of revenue in the USA, while employing 207,000 people last year. The Indian tech industry created an average wage of $106,360 for the #employees in the US, according to the report.

The report is titled ‘Impact of Indian Technology companies on the US Economy and Building the current and future US workforce: role of the Indian technology industry in the US’.

The report further stated that the Indian #tech sector works with 75% of the #Fortune 50 companies.

#NASSCOM said the Indian firms had made an investment of $1.1 billion and formed partnerships with nearly 180 universities and colleges to diversify the STEM (science, technology, engineering, and mathematics) pipeline in the country.

Indian firms have also contributed $3 million for just kindergarten-to-twelfth standard initiatives, impacting over 2.9 million students and teachers in the US.

According to the report, demand for STEM occupations in the #USA is expected to grow in the next decade.