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.
The 2025 US National Security Strategy marks a major pullback, with America turning backward and effectively allowing China greater dominance in Asia. while long-time partners like India are left to face an increasingly unstable global order largely on their own, observes Rajeev Srinivasan.
According to the latest figure update by US Citizenship and Immigration Services, approximately 46,700 of the H-1B visas in the general category were filled up by September 25; against a Congressional mandated figure of 65,000.
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.
'Skilled labour is different from immigration.' 'While any adverse immigration ruling will impact Indians, it may not necessarily affect the IT services industry.'
India is taking up with the United States the issue of reduction of H1B visas for specialised workers, as it would affect movement of Indian software professionals to that country, the Rajya Sabha was informed on Thursday.
Microsoft Chairman Bill Gates has said that the curbs on how many foreign workers US tech firms can bring into the United States should be done away with, according to news reports.
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.
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.
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.
US Secretary of State Marco Rubio claims President Donald Trump was instrumental in bringing about the cessation of hostilities between India and Pakistan, a claim India has consistently denied.
'Indian markets may underperform global peers for the next two quarters.' 'But beyond that, India should catch up and resume its long-term growth path.'
Amid Trump's expected action against employment visas, India's bellwether IT firms reveal they have been preparing for this eventuality for years.
The Bill would impact only Indian companies.
The US Citizenship and Immigration Services has announced that it has received sufficient number of applications to reach the mandated cap of 65,000 for working professionals for the fiscal ending September 30, 2010.
The mandated Congressional cap is of 65,000.
'The frenzy for gold is primarily due to the uncertainty surrounding the tariff war.'
This is not a new rule, but very few people know about it.
In a move that is expected to hit Indian IT companies, the US government has decided to hike H-1B visa fee from next fiscal.
'Trump is not shy when he is frustrated with countries'
The Congress on its Twitter handle also criticised Modi's US visit.
The bill will attempt to toughen the H-1B visa program.
Indian IT workers are paid considerably less than their American counterparts who have similar qualifications, making the H-1B visa programme "deeply flawed", according to a study.
Continued presence of such a problematic provision in the bill, which was passed by a key Senate panel on Tuesday, industry sources said would not only badly hit Indian IT companies, but also disrupt operational capabilities of a large number of key American companies as well.
'Non-compatible with Western Civilization' is about as vague and jingoistic as it gets and Trump saying this gives full license to his acolytes to go full throttle on making life as difficult and scary as possible for as many non-white people as possible,' notes Sree Sreenivasan.
In June, Disney had laid off about 250 employees.
An ongoing federal probe into H-1B visa fraud leads to 11 arrests and the indictment of IT services firm Vision Systems Group
US federal authorities have claimed to have unearthed a major H-1B visa racket with the arrest of at least 11 persons, most of them suspected to be of Indian origin.
Since early December 2008, Sreehari Gopalakrishnan has applied to 176 firms, and the rate of call back has steadily declined. "Earlier, it used to be from 20 to 30 places but now it is less than 10 per cent", says Gopalakrishnan, an analyst with a firm in Connecticut that does relocation management. With the current economic downturn and the housing slump, his company has several houses in its inventory worth millions of dollars.
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 US Senate has approved a landmark immigration reform bill that would give citizenship to millions of illegal persons and double the number of H1-B visas from the present 65,000
This is the first time that the cap is reached on the first day of receiving the applications on April 2.
Two US lawmakers have asked nine foreign-based firms, including some leading Indian companies that used 20,000 of such visas, to disclose details about their workforce and their use of the special programme.
This measure to double the number of temporary visas to H-1B skilled-workers to 115,000 -- with an option of raising the cap 20 per cent more each year -- was buried in the Senate's giant 300-page Immigration Bill that got approved 12-6 on Tuesday.
Proposals to allow more high-technology foreign workers into the US are gaining ground in Congress despite assertions by labour and anti- immigrant lobbies that plenty of Americans are available to fill the jobs.
Applications for H-1B work visa for the fiscal year 2013 would be accepted from April 2.
US H1-B visa cap reached within 5 days for 3rd straight year.
