US H-1B visas: Nasscom cautions US, says move may puts jobs at risk, hurt American companies-Highlights
Nasscom, the apex body for the 154 billion dollar IT-BPM industry in India stated that any step of capping the H-1B visas for technology workers will affect the growth of the American companies.
Nasscom, the apex body for the 154 billion dollar IT-BPM industry in India stated that any step of capping the H-1B visas for technology workers will affect the growth of the American companies. Nasscom - which represents Indian IT majors like TCS, Infosys and Wipro as well as smaller tech firms mentioned the negatives for both US and India due to the limit on H-1B visas:
-It will weaken the US companies growth, as companies mostly depend on these skill sets
-It will put jobs at risk
-US has 7.5 Billion unfilled jobs (67 per cent required technical skills) - so, the need for Indian techies is high
-The move will create pressure on US to send technology service to rest of the world
-This will create impact on USD 150 billion Indian IT sector(get big share from the N. America market)
-There is already a row between US and India over trade and tariffs
-It could lead to a greater crunch for businesses to access the skilled workers they need
-Only a small share of these Indian nationals( H-1B visa holders) are employed by Indian companies, the majority of them are sponsored by global and US multinationals
Nasscom also noted that there is no official confirmation yet on the development from the US government on the matter and that it is awaiting clarity from official channels.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
IRCTC Dividend 2024: Railway PSU announces 200% interim dividend - Check record date and other details
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
07:02 PM IST