THE INDIAN Information Technology (IT) industry trade association Nasscom and industry leaders have expressed optimism about continued collaboration with the United States of America, although uncertainties around H-1B visa policies, outsourcing regulations and trade tariffs remain.
Nasscom extended its wishes to President Trump on his election victory, underlining the crucial role that the tech industry plays in US-India relations. In a statement, Nasscom said, "The tech sector is the key lynchpin of the US-India bilateral engagement. The US is the largest market for India's $254 billion tech sector, where its overall contribution is $80 billion to the GDP of United States. Importantly, the industry plays a key role in supporting US companies in strengthening the US economy."
With the US serving as a primary market for Indian IT companies such as Tata Consultancy Services (TCS), Infosys, Wipro, HCLTech and many more, Nasscom stressed on the sector's economic contribution and its collaborative role in technological innovation. The association further highlighted its eagerness to work closely with the new administration on shared priorities such as artificial intelligence (AI) and cybersecurity, citing a commitment to a "democratic, inclusive and sustainable innovation ecosystem." Speaking with BW Businessworld, Neeti Sharma, CEO at TeamLease Digital, explains that during the previous Trump administration stricter H-1B visa rules forced Indian IT companies to adapt by hiring more locally in the US and creating jobs there (over 1,75,000 by 2019). However, this shift helped Indian IT companies better serve their US clients onshore, despite the challenges. Additionally, the growing demand for digital transformation in North America provided opportunities for Indian IT firms to lead in innovation.
Demand For Skilled Indian Workforce
This story is from the December 28, 2024 edition of BW Businessworld.
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This story is from the December 28, 2024 edition of BW Businessworld.
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