In his State of the Union address, US President Barack Obama said the country faces a challenge maintaining its world leadership in research, and that technology is "crucial to America's success".
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The current situation is similar to 1957, when the Soviet Union launched its Sputnik satellite into Space. "This is our generation's Sputnik moment," he said.
Obama acknowledged that in a single generation, revolutions in technology had transformed the way we live, work and do business.
"With so many baby-boomers retiring from our classrooms, we want to prepare 100,000 new teachers in the fields of science, technology, engineering, and math," he said.
Obama's words come as a raft of Indian ICT companies announce strong financial results for the last quarter, indicating a further shift in the balance of global technology services to the East.