Shri Harsh Vardhan Shringla, India’s Ambassador to the US, stressed on the role played by India’s IT industry in fostering robust Indo-US business relations and creating employment opportunities at a conference organised by NASSCOM in Washington. He noted that a lot of Indian IT firms have invested more than US$ 50 billion across many states in the US & that programmes such as H1B visas have facilitated the movement of skilled labour between the 2 nations.
Indian IT firms are also employing people from the region having relevant skills. In this context, NASSCOM President Debjani Ghosh noted, “Close to US$ 16.3 billion of wages are paid by these companies of Indian origin in the US. While NASSCOM contributes about US$ 185 billion to India’s numbers, we also contribute US$ 28.2 billion directly to US GDP and US$ 7.7 billion in terms of state and federal taxes in the US.”
Stay ahead in the dynamic world of trade and commerce with India Business & Trade's weekly newsletter.