India Inc can address STEM skills gap in Biden-led US: Nasscom

Indian IT industry’s apex body Nasscom is looking forward to working with the Joe Biden government to find solutions to address the science, technology, engineering and math (STEM) skills gap in the US enabling the country to create more jobs and be more competitive.

“The Indian technology industry makes significant contributions to the US economy and workforce, including local investments and job creation, workforce development, and upskilling their US employees,” Nasscom said in a statement on Thursday.

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India-US bilateral trade increased to $149 billion in 2019 from $37 billion in 2005, a 400% jump, led by technology sector of both the countries.

According to Nasscom, the US is currently facing a shortage of STEM skills which is evident from the high unemployment rates as well as over 750,000 job vacancy postings in computer occupations as of 13 January 2021, a 20% increase since May 2020.

“Despite high degree of overall unemployment in the US, demand for high tech skills continues to remain robust, clearly endorsing the argument that there are just not enough workers with relevant skills to fill them. The rules announced by the previous administration will worsen this talent gap,” Nasscom said.

Meanwhile, as Joe Biden takes charge as the 46th president of the US, he signed a series of executive actions to reverse certain policies of the Donald Trump administration. Six of Biden's 17 orders, memorandums and proclamations deal with immigration, including signing an executive order ending the restrictions on travel and immigration from some predominantly Muslim countries.

“President Biden has pledged a new approach on trade and immigration, as well as a renewed and revitalized interest in science and technology. We appreciate President Biden’s commitment to review and make necessary changes to harmful regulatory policies put in place by the outgoing administration,” Nasscom said.