$15 billion taxes paid by Indian IT companies in US in the last 5 years

Excerpt from Economic Times

The Indian IT industry in the US has contributed $15 billion in taxes alone in the last five years, Foreign Secretary Ranjan Mathai said, stressing on the need to eliminate discriminatory actions. Mathai, on his first bilateral visit to the US in his capacity as the Foreign Secretary, expressed hope that the economic challenges in the US would not lead to protectionism and concerns of the Indian IT industry will be addressed. He is believed to have raised the issue in his meeting with the officials of Commerce Department on Monday.  “We do hope the current economic challenges in the US would not lead to protectionism and that concerns of Indian IT industry will be addressed quickly,” Mathai said in his address to the Centre for Strategic and International Studies.

NASSCOM estimates that Indian industry employs over 100,000 in the US up from 20,000 six years ago, he said adding it supports 200,000 other jobs, including indirect ones, apart from enhancing the competitiveness of some the US industries.

Source: Economic Times

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