India’s Tech Industry clock $103 bn revenue: Report

New Delhi, July 14 (KNN) The Indian tech industry has generated USD 103 billion revenue and increased investment in American talent and technology, said a report.

It has directly employed 2,07,000 people in the US which is a 22 per cent employment growth since 2017.

According to a report by Nasscom and IHS Markit (now part of S&P global), from the value chain through to the end customers, Indian technology companies invest in American talent and technology that they augment with their global resources to develop and produce cutting-edge innovations for industries & clients.

The direct impact of the Indian tech industry has helped the US economy generate a total of USD 396 billion in sales to date, said the report.

So far it has supported 1.6 million jobs and contributing over $198 billion to the American economy, as per the report.

Debjani Ghosh, president of Nasscom, said the US today has one of the largest demand-supply gaps as compared to other geographies.

“The Indian tech sector works with more than 75 per cent of the fortune 500 companies, most of them headquartered in the US and is, therefore, well equipped to understand and meet the critical skill challenges of the digital age,” said Ghosh.

“The Indian technology Industry makes critical contributions to the US economy through local investments, fuelling innovation and the labour force, and enabling skill development for the local workforce," said Nasscom chief.  (KNN Bureau)