Contributions of India’s Tech Industry to the U.S. Economy
Pictured from Left to Right: NASSCOM President R. Chandrashekhar, Commerce Secretary Rita Teaotia of India, Minster for Commerce and Industry of India Nirmala Sitharaman, Indian Ambassador to the U.S. Arun Singh, NASSCOM Chairman Mohan Reddy
The National Association of Software and Services Companies (NASSCOM) released Monday a report titled, “Contributions of India’s Tech Industry to the U.S. Economy” on the sidelines of U.S.-India Strategic and Commercial Dialogue.
According to the report, India-based IT companies providing services to American businesses and other customers invested more than $2 billion in 2011-2013; paid $22.5 billion in taxes to the U.S. Treasury in the last five years; and today support more than direct and indirect 411,000 jobs in the U.S. – majority of those are held by U.S. citizens and permanent residents.
The report also documented charitable activities by Indian IT services companies in the U.S. through volunteers, scholarships and grants such as a $35 million gift from Tata Consultancy Services to Carnegie Mellon University announced last month.
[ Indian Economy Tanks as Exports from India Decline ]
Introducing the report, India’s Minister of State for Commerce and Industry, Nirmala Sitharaman, said Indian IT organizations benefit from access to the U.S. market, “just as American IT organizations benefit from their investments and operations in India.”
She added, “This momentum is surely going to increase manifold with new partnership opportunities emerging in the areas of Digital India and Smart Cities for American technology firms.”
[ What Citizens Want in the Smart Cities of India ]
Sitharaman is visiting Washington, DC, Sept. 21-22 for the U.S.-India Strategic and Commercial Dialogue hosted by her counterpart, U.S. Secretary of Commerce Penny Pritzker.
Announcing plans for the dialogue during her visit to India with President Obama in January 2015, Pritzker said, the dialogue would “ensure that the United States and Indian businesses – small, medium and large – are in a position to capitalize on abundant opportunities that exist in both of our countries.”
NASSCOM is a trade body and the chamber of commerce of the IT-BPM industry in India.
