In a major move that will benefit hundreds and thousands of Indian IT professionals in America, the Biden administration has introduced an ambitious immigration bill in Congress which among other things proposes to eliminate the per-country cap for employment-based green cards.
In the second quarter, attrition for the IT firm hit an all-time low of 8.9 per cent, a fall of 120 basis points on quarter-on-quarter basis.
Ignoring the concerns of Corporate America and India, US President Barack Obama signed into law a new Border Security Bill proposing a steep hike in some categories of H-1B and L-1 visa fees on Friday.
The broader NSE index has fallen about 0.9% as investors wait for corporate results
In the run up to three years of the National Democratic Alliance government, Minister of State for Commerce and Industry (Independent Charge) Nirmala Sitharaman says it is time to consolidate some of the major initiatives as well as take new steps.
There is a lot of optimism across all markets and a large part of it is justified, says Samir Arora of Helios Capital Management.
Trump will host Modi at the White House on Monday afternoon.
With the arrest of seven Indians, American authorities have claimed to have busted an immigration racket run by an infotech company owner who charged tens of thousands of dollars from expatriates by fraudulently sponsoring their H-1B work visas.
Why are students being forced to go abroad to study?
With visas set to max out quickly again, tech companies want more. Amid rising joblessness, does America need more skilled foreign workers?
In IT, the two-way flow of investments and intellect has been central to the growing linkage, which provides a great opportunity for both nations to improve the quality of life of their citizens, says Raman Roy.
A bipartisan legislation has been introduced in the US House of Representatives to eliminate the per country cap on employment-based Green Card, a move which is likely to benefit Indian IT professionals languishing over decades of waiting for the Permanent Resident Card. The legislation was introduced by Congresswoman Zoe Lofgren and Congressman John Curtis. The Equal Access to green cards for Legal Employment (EAGLE) Act, 2021 needs to be passed by the Senate before it can be sent to the White House for the president to sign it into a law. A Green Card, known officially as a Permanent Resident Card, is a document issued to immigrants to the US as evidence that the bearer has been granted the privilege of residing permanently.
'None of his grandparents, and only one of his parents, was born in the US or spoke English as their mother tongue.' 'Of his three wives, one was born in Czechoslovakia and one in Slovenia.' 'Where would Trump have been if they, too, had 'rejected the ideology of globalism and embraced the doctrine of patriotism'?' asks Sunanda K Datta-Ray.
The immigration reform proposals significantly increase the quota for skilled workers from existing nearly 12 per cent to 57 per cent.
Obama used his executive power to announce a series of administrative measures to provide legal status to over five million illegal immigrants in the country, including those from India.
At no other time has a single meeting of the leaders of two democracies been so critical and hazardous.
The founder of the Republican Hindu Coalition first attracted attention in the US as the "Punjabi tycoon" who was a huge supporter of Narendra Modi in the US. 'He will be best for India. There is no better ally for the US than India in the region,' Shalabh Kumar tells Rediff.com's Vaihayasi Pande Daniel.
These firms invested $17.9 bn and have also contributed $147 million towards corporate social responsibility and $588 million as R&D expenditure in the US.
Investors are already factoring in the impact. The IT Index on the BSE exchange dipped 2.5 per cent, with Infosys, Wipro and TCS showing a decline.
The Obama administration, responding to India's angst over the sharp hike in H-1B and L1 visa fees as discriminatory and anti-trade in services, has argued that India is equally discriminatory.
Union Minister for Commerce and Industry Anand Sharma has shrugged off the recent irritants that have cropped up less than six weeks before US President Barack Obama makes his visit to India as 'transient negativity', and predicted they would 'get dissipated' soon.
Ignoring India's concerns on raising of certain category of work visa fee, the White House on Thursday said President Barack Obama would sign into law a comprehensive plan to secure the Southwest border, including $600 million in supplemental funds for enhanced border protection and law enforcement activities.
Congruence on terrorism, current disquiet on immigration, short-term visa would top the wish list.
The proposals being put forward by a coalition of powerful Democratic Senators are aimed at fixing the country's broken immigration system.
The provisions of the border security bill, which allows massive increase in the fees on categories of H-1B and L1 visas, is discriminatory against the Indian companies, India has said and asked the United States to amend it.
The US is reviewing the suggestion that the border security bill, that significantly increases visa fees of H1-B and L1 categories, was not WTO compliant, days after President Barack Obama signed it into law.
Ginni Rometty, who is on Donald Trump's advisory committee, discusses the importance of an open workforce, work visas, and why India is a microcosm of all of IBM.
'I do not think that we are showing Hindu humanity and humaneness in the process of the National Register of Citizens.'
IT companies have, in recent times, re-invested gains arising from a weaker rupee.
With countries like the US restricting hiring of foreign workers on H-1B work visas, the UN Secretary-General Ban Ki-moon on Tuesday opposed imposition of restrictions on international migration.
'We know that if the IT industry goes on strike even for a day or two, the repercussions will be international, and we will suffer as a country.' 'We don't want that to happen.'
'I am hopeful that you will see more focused attention on this relationship,' former US assistant secretary of state Nisha Desai Biswal tells Alokananda Chakraborty.
'That an Indian can lead the world's top software company is an important milestone for Indian Americans and for America. But the larger message is for India itself: Imagine what Indians can achieve at home if they put their differences aside and start helping one another,' says Vivek Wadhwa.
"Protectionism is not new. The attention that is given is because there is a political and emotional element to it." TCS COO N G Subramaniam on why his company is optimistic despite global headwinds.
'Do not panic; have a good rapport with the HR and negotiate if they can map you to some other requirement with lesser compensation. Take sometime off -- 10 to 15 days; relax; be with your parents or friends then come back and prepare a good resume and learn new skills.' A chemical engineer and IT professional share their layoff lessons.
There was a discussion on trade matters, market access, regulatory issues and barriers. Both leaders underlined the importance of free and fair trade
'China has gone too long as a rogue power, trashing international norms, agreements, and treaties as if they were not the paper they were written on.' 'The ill-advised attack on Ladakh may be the beginning of the end of that nonsense,' advocates Rajeev Srinivasan.
Jeff Sessions, a close confidant of US President Donald Trump, was on Thursday confirmed to be the next attorney general, after a historically tumultuous process that saw the senator come under fire for his views on race and civil rights.
Sensex may remain under pressure this week due to weak global factors.
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