Indian tech sector reaches $103Bn revenue in US
The Indian tech industry has generated $103 billion of revenue and directly employed 207,000 people in the United States, said NASSCOM and S&P Global.
The direct impact of the Indian tech industry in both operational and investment spending and supporting their client base has rippled through the US economy.
Overall, output sales generated $396 billion in US sales, supporting a total of 1.6 million jobs and contributing over $198 billion to the US economy – more extensive than the combined economies of 20 US states in 2021.
The Indian technology 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. It also has provided over $3 million more for just K-12 initiatives.
Demand for STEM occupations in the US is expected to grow 1.5 times faster than non-STEM jobs over the next decade. Around 70% growth in this demand is expected to be driven by IT occupations, accounting for 51 percent of STEM occupations by 2030.
