The recent hike in H-1B and L1 visa fee to raise $600 million for securing the American border with Mexico is "a bad policy" for the US and could very well "sour" its ties with India whose IT sector is affected by the move, two noted economic experts have said.
The Union Commerce and Industry Minister, Anand Sharma, had last week written a letter to the US Trade Representative, Ron Kirk, in this regard.
The steep increase in visa fee of certain categories of H-1B and L1 visas was part of the $600 million border security bill signed by the US President Barack Obama, last week, to strengthen security along the US-Mexico border.
Indian Ambassador Nirupma Rao said the country will take care of the US concerns in a candid manner, open and transparent manner.
The Reforming American Immigration for Strong Employment, or RAISE, Act, introduced by Republican senator Tom Cotton and David Perdue from the Democratic party, would alter the US immigration system to significantly reduce the number of foreigners admitted to the country without a skills-based visa.
Demand for digital technologies and resumption of normal economic activities will drive sales for IT companies, and the sector will post a revenue growth of up to 9 per cent in 2021-22, a report said on Thursday. Rating agency Icra gave a "stable" outlook for the sector, whose size is pegged at over $180 billion by industry lobby Nasscom, including the business process outsourcing business. The IT services sector's revenues will rise between 7-9 per cent in rupee terms and between 5-8 per cent in dollar terms in 2021-22, it estimated.
The company is the third largest employer among foreign IT companies in the country, after Accenture and IBM
He is accused of multi-year visa fraud, involving forged and fraudulent documents to get visas such as H1B for over 200 foreign workers.
US President-elect Trump had recently said that he would not allow Americans to be replaced by foreign workers, in an apparent reference to cases like that of Disney World and other American companies wherein people hired on H-1B visas, including Indians, displaced US workers.
Panagariya also pointed out that COVID-19 pandemic may lead to integration of global labour market.
The bill, however, has to be passed by the Senate, wherein the Republicans enjoy a majority, before it can be signed into law by the US President Donald Trump.
India has stated that the move would impact Indian IT professionals.
During the meeting with Acting Deputy US Trade Representative Wendy Cutler on Wednesday,
This employment-based backlog is projected to double by fiscal 2030. The back log exists because the number of foreign workers whom US employers sponsor for Green Cards each year exceeds the annual statutory Green Card allocation. In addition to this numerical limit, a statutory seven per cent per-country ceiling prevents the monopolisation of employment-based Green Cards by a few countries.
In a bizarre reaction to Srinivas Kuchibhotla's shooting at a restaurant in Kansas on Wednesday night, the Telangana American Telugu Association has advised the community to avoid communicating in Telugu in public places in the US.
Top 5 losers include Infosys, TCS, ITC, M&M and HUL.
The meeting between Jaishankar and McMaster gains significance as the top military leader was appointed as the National Security Advisor by US President Donald Trump ten days ago.
TCS, Infosys and others are banking on automation to protect their turf in the US, but building a successful revenue model around it may prove difficult
Sunayana Dumala fell out of status because her permission to reside in the US was tied to Kuchibhotla through marriage.
Here are some interesting facts about Melania Trump, wife of Donald Trump
Chicago-based Tribune Publishing Company is moving work to TCS
The other top officials who will accompany the US president are Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, National Security Advisor Robert O'Brien and Energy Secretary Dan Broulliette, the sources said.
The opposition claimed that Swaraj misinformed the House on India's foreign policy.
Officially called the Border Security, Economic Opportunity and Immigration Modernisation Act, 2013, the Bill being pushed by the Obama administration gives the domestic IT professionals in the US a 60-day period to find a new job after they lose the existing one, among several other sweeping reforms.
"We need to keep this country safe, but we should do that by focusing on people who actually pose a threat ... We should also keep our doors open to refugees and those who need help. That's who we are," said the Facebook founder.
"Fifteen years ago, I was leading the efforts to approve the historic civil nuclear deal with India. I said that if the US and India became closer friends and partners, then the world will be a safer place," Biden, who was vice-president in the Obama administration, said while addressing the Indian-American community on India's Independence Day.
Miller insisted that any legal immigration system should not displace American workers and there should be no abuse of 'fraud'.
Industry experts are of the opinion that the spurt in recruitment happened as IT services firms went aggressive on hiring in anticipation of a strong demand environment.
Ahead of his India visit on February 24-25, Trump said that India has not treated his country 'very well' on the trade front and indicated that a 'very big' bilateral deal with New Delhi may not be signed before the American presidential election in November.
India's roughly $150 billion outsourcing sector generates about three quarters of its revenue from the United States.
The year-wise number of Indians who renounced their citizenship was provided by External Affairs Minister S Jaishankar in response to a question in Rajya Sabha.
As of now, about 66 per cent of the green cards are given to those with family ties and only 12 per cent are based on skills.
Swaraj expressed satisfaction over the agenda of the inaugural dialogue while giving the details of the deliberations.
'I hope that Macho Man agrees to debate her, because I think she will do spectacularly well in the debate.'
India's growth, he said, remains resilient with low inflation, fiscal prudence and low current account deficit, talking about robust structural reform measures.
Civil rights activist Lakshmi Sridaran argues why South Asians must stand on the right side of history and resist the Trump administration's "systematic attack on the entire spectrum of the US immigration system."
The Bharatiya Janata Party, if voted to power, will create an atmosphere of "mutual goodwill and trust" with the United States, party president Rajnath Singh said in Washington, DC, asking America to look at India as a long-term strategic partner and "not merely as a transactional" relationship.
TCS, Wipro and Infosys dropped by up to 4.47 per cent, dragging down the BSE IT index by 2.96 per cent
External Affairs Minister Salman Khurshid on Tuesday said his ministry is contemplating a plan to have people from industry on-board to facilitate on issues relating to economic diplomacy.
The world is still figuring out the man as he continues his enigmatic journey towards the first 100 days of his presidency.
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