Indian IT companies have been playing a big role in creating jobs in the US besides being responsible for generating million of jobs at home.
According to a report released by the National Association of Software and Services Companies (Nasscom), the Indian IT companies currently support over 4 lakh jobs directly or indirectly in the US, including 3 lakh jobs held by its citizens and permanent residents.
"Indian IT organizations benefit from access to the U.S. market, just as American IT organizations benefit from their investments and operations in India," Minister of State for Commerce and Industry Nirmala Sitharaman said while introducing the report on the sidelines of US-India Strategic and Commercial Dialogue.
The annual growth of jobs created by India-based IT firms in the US stood at 10% from 2011 to 2014, which is six times more than the average employment growth rate of 1.7% in the country in those years, Firstpost stated citing the report, titled "Contributions of India's Tech Industry to the U.S. Economy".
"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," Sitharaman added.
According to the report, California, Texas, Illinois, New Jersey, New York, Georgia, Ohio, Washington, Michigan, and Pennsylvania are the states that saw the highest number of job offers by the Indian IT companies.
The report showed that domestic companies had made investments worth $2 billion during 2011-13, paying $22.5 billion in taxes to the US government in the same period.
"The two-way flow of investments and intellectual talent is central to the growing commercial and strategic relationships between India and the US," said Nasscom president R Chandrashekhar.
Besides this, the Indian companies carried out philanthropic activities impacting over 120,000 American lives in 2011-2013, the Nasscom report said.