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".
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.