Shortage of STEM (science, technology, engineering and mathematics) talent is the key challenge currently faced by the technology sector in the U.S and this is clearly highlighted by the high degree of country's overall unemployment on one hand, and more than half a million job vacancies in computer occupation on the other, said Nasscom in a note released on Sunday to extend congratulations to President-elect Joe Biden, and Vice-President elect Kamala Harris.
The apex body said it looked forward to working together with the new U.S. administration, to find solutions to the STEM skills gap, and enable America to be more competitive, to grow and create more jobs.
Nasscom member companies have an important history in the U.S.: they work with over three-quarters of the Fortune 500 companies in the country, providing them vital technology services and helping them innovate, compete, and grow. India-U.S. bilateral trade increased by over 400% since 2005, with total increase in value from $37 billion in 2005 to $149 billion in 2019: technology sectors of both countries have played a critical role in driving this, it said.
Highlighting India's contribution to the U.S economy, the industry body further said, ``Indian technology industry makes critical contributions to the U.S. economy and workforce, including local investments and job-creation, workforce development and upskilling their U.S. employees, CSR and community services. During the COVID-19 pandemic, the role of the tech sector has become even more indispensable: maintaining critical infrastructure, including health infrastructure; working on molecules for development of the COVID-19 vaccine; promoting employees to work remotely; securing and servicing networks, data centres and cloud services; keeping students engaged via online education; to name a few.''
