Indian IT firms paid $22 billion in US as taxes!

A new report by India’s software and services trade association Nasscom had once again revealed the crucial role of Indian IT companies in US. According to the report, Indian companies paid $22 billion from 2011 to 2015. Most importantly, the Indian companies had created 410000 jobs there. This report also dispels the myth that India is bleeding US white-collar jobs and distressing its tech economy.

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Indian IT firms provide operational support to over 90 percent of Fortune 500 firms and thousands of other American businesses. Nasscom report says there is no truth in Indian IT firms destroying US tech economy but is making US businesses more innovative, competitive, primed for new market opportunities, and eager to expand jobs.

The report also revealed that the two-way trade between US and India touched more than $ 580 billion over the last seven years, including $ 103 billion in 2014. In the same timeframe, India’s foreign direct investment in the US has doubled touching $ 7.1 billion. At the same time, US FDI in India during the same period was $ 24.1 billion.