The USCIS said this year it expects to receive more than 65,000 petitions.
Former Massachusetts Gover Mitt Romney has said that while he is for increasing the quota for H1B visa, a majority of whose aspirants are Indians, the exact figures would depend on a number of things including the strength of the US economy and the implications for the local workforce.
The Biden administration on Friday issued a formal notification to delay the implementation of the previous Trump regime's controversial rule to raise mandatory minimum pay for foreign workers on H-1B visa, the most sought after among Indian IT professionals. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in specialty occupations that require theoretical or technical expertise. The technology companies depend on it to hire tens of thousands of employees each year from countries like India and China. The Department of Labour in its federal notification published on Friday said that it is considering whether to propose a further delay of the final rule's effective date and accompanying implementation periods that are currently scheduled to take effect on May 14, 2021, and July 1, 2021, respectively.
The US Citizenship and Immigration Services (USCIS) announced the measures to enforce the provisions of the new Employ American Workers Act (EAWA) of the American Recovery and Reinvestment Act, which prohibits hiring of H-1B visa holders by American companies who receive the federal aid money.
The Bill would impact only Indian companies.
The money generated, expected to be more than a billion dollar per annum, would be used to fund a biometric entry and exit tracking system
Trump's proposed policy limits undergraduates from any one country to 5% at select top US universities, raising concerns for Indian aspirants eyeing elite colleges.
The Indian team has returned from the US after holding trade talks with their American counterparts in New York, an official said on Thursday. Commerce and Industry Minister Piyush Goyal, who led the team, will be back on Friday.
India has implemented a number of free trade agreements with developed nations and is in active dialogue for such pacts with nations including the US, Oman, and the EU, Commerce and Industry Minister Piyush Goyal said. India has implemented trade pacts with Australia, the UAE and EFTA bloc. It has also signed an agreement with the UK.
Indians are the main beneficiaries of the H-1B visas, which bring in the best of the talent and brains from across the world. Highly skilled professionals from India walk away with the overwhelming number of H-1B visas - which is Congressional mandated 65,0000 every year and another 20,000 for those who received higher education from the US.
The Trump administration is reportedly moving ahead with its decision not to give work permits to the spouses of H-1B visa-holders, arguing that this displaces genuine American workers.
Stock markets will be driven by RBI's interest rate decision, tariff-related developments, global trends and trading activity of foreign investors in this holiday-shortened week, analysts said.
Bengaluru is at a critical juncture, where its economic model, reliant on attracting and retaining skilled professionals, is directly threatened by a measurable decline in urban quality of life, point out Shishir Gupta and Rishita Sachdeva.
During his presidential campaign, Obama had pledged to make comprehensive immigration reform a top priority in his first year as President.
Most pharma shares dropped, dragging the BSE Healthcare index down by 2.14 per cent after Trump's move to impose 100 per cent import tariffs on pharmaceutical drugs from October 1. Wockhardt shares tanked 9.4 per cent.
Economic experts fear massive layoffs in various sectors of the American economy due to the current economic distress that is only going to deteriorate in the coming months. A record 3.3 million Americans have filed initial jobless claims for the week ending March 21. Even as the peak of coronavirus in the US is two weeks away, millions of people in the country have lost their jobs.
US President-elect Joe Biden plans to increase the number of high-skilled visas, including H-1B, and eliminate the limit on employment-based visas by country, both of which are expected to benefit tens of thousands of Indian professionals impacted by some immigration policies of the outgoing Trump administration.
Amid mass layoffs in the tech sector, the federal agency for immigration services has said it is wrong to assume that sacked workers holding the much-sought-after H-1B visas have to leave the country within 60 days, asserting they have multiple options to stay in the US. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.
United States, the largest market for the $282 billion Indian IT sector, is a "wild card" for the industry, lobby grouping Nasssom's president Rajesh Nambiar said on Monday. Speaking to reporters Nambiar said the tariff threats by the US may turn out to be the biggest headwind for the sector. "Broadly, if you were to look at the headwinds, the biggest unknown there would be the tariffs and the impact of what happens in the US market," Nambiar said.
Slamming American immigration policies, Microsoft boss Bill Gates has said the US was shutting the door on the best and the brightest at a time when the country needed it the most.
A presidential advisory sub-committee has recommended the federal government to extend the grace period for H1-B workers, who have lost their jobs, from the existing 60 days to 180 days so that the workers have enough opportunities to find a new job or other alternatives. "The immigration subcommittee recommends the Department of Homeland Security and the US Citizenship and Immigration Services (USCIS) to extend the grace period for H1-B workers, who have lost their jobs, from 60 days to 180 days," Ajay Jain Bhutoria, member of the President's Advisory Commission on Asian Americans, Native Hawaiians, and Pacific Islanders, said on Tuesday. In his presentation, Bhutoria highlighted the significant challenges faced by H1-B workers laid off from their jobs.
The new rule stipulates that those who arrive on a work visa should work under the petitioner and not at a client's site.
'The frenzy for gold is primarily due to the uncertainty surrounding the tariff war.'
Most applicants of the H1-B visas, much sought-after by hi-tech professionals including Indians, are 'average' workers and not the 'innovators' as portrayed by industry lobbyists, a report has said, opposing the extension of the popular guest worker programmes. New data analysis shows that the vast majority of H1-B workers, including those at most major tech firms, are not the innovators industry portrays them to be, the Centre for Immigration Studies said in a statement.
IT services firm Wipro on Thursday reported a marginal increase in consolidated net profit to Rs 3,246.2 crore in the July-September quarter, even as company CEO and MD Srini Pallia asserted that the demand environment remains robust with discretionary spends shifting towards AI-related projects.
In what could be seen as a setback to Indian IT professionals, the US Senate has voted for imposing strict conditions on hiring of people with H-1B visas by American companies receiving federal bailout money.
President Donald Trump's executive order restricting entry of skilled foreign workers into the US, mainly on H-1B and L1 visas, has resulted in an estimated loss of $100 billion to companies in the US, a top American think-tank claimed. The executive order signed by Trump on June 22, that had temporarily banned issuing fresh H-1B and L-1 visas till December 31, caused a negative impact to the valuation of Fortune 500 firms equivalent to over $100 billion in losses, Brookings Institute said in a report released this week.
The issue was raised by the visiting CII's CEO Mission led by Bharati enterprise chairman Sunil Bharati Mittal, who among others met Lawrence Summers, Director of the National Economic Council, at the White House on Wednesday. During the meeting, the delegation comprising top Indian CEOs brought to the notice the concerns about the recent developments in the US with regard to H-1B work visa programme and certain provisions in the stimulus bill.
The current H-1B minimum wage of USD 60,000 was established in 1989 and since then has remained unchanged.
More companies can now get the visa rather than very few taking a lion's share.
IT services major Infosys on Thursday reported 11.46 per cent increase in consolidated net profit at Rs 6,806 crore for December quarter FY25 and raised its guidance on the back of growth in financial services and manufacturing. The company had logged a profit of Rs 6,106 crore in the corresponding period of the previous fiscal.
With average returns of 18 per cent over the past year, listed real estate investment trusts (Reits) have clearly outperformed both the Nifty Realty index and the Sensex. Over the same period, Nifty Realty fell 15.5 per cent, while the benchmark index was largely unchanged. Steady office leasing, the Securities and Exchange Board of India's (Sebi's) decision to reclassify Reits as equity instruments, and ongoing portfolio expansion have strengthened the sector's appeal.
The United States Citizenship and Immigration Services, officially, has not come out on the number of H-1B applications received by it since April 1 when it started accepting petitions for it for the fiscal 2014 beginning October 1, 2013.
With more than 1.2 million Indians stuck in green card backlogs, investor-driven EB-5 programme sees rising interest as a secure route for migration to the US.
The current cap on H1-B visas could lead to a situation where those having the visas demand fatter salaries, which, in turn
Let's fix the system, end the abuses but make sure we recognise the role of immigrants in creating jobs: Khanna.
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