US President Barack Obama has already backed the Bill that seeks to put curbs on the use of H-1B visa for those companies which have a higher ratio of work force under this category.
The bill moved after months of closed-door meetings by a group of eight bipartisan lawmakers, known as the Gang of Eight, aimed at striking a balance between enforcement provisions sought by Republicans as well as Democrats, including making citizenship widely accessible to those illegally in America.
Last year, Nasscom hired influential lobbyist, public relation and law firms to plead the case of Indian firms with Congressmen.
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.
It would increase economic growth for years to come.
There are about 2 million eligible Indian origin people that can vote.
According to government statistics, Indian IT firms support 280,000 jobs in the US and have contributed about $15 billion to the US Treasury in the past five years.
Indian IT professionals in the US have welcomed the proposed immigration bill on several counts, particularly the Green Card, introduction of merit-based visa and increase in H-1B visa quota.
In a filing to SEC, the company said proposed regulations may discourage its customers from seeking services.
The first killer provision in the Comprehensive Immigration Reform Bill is the ban on client site placement for H-1B workers.
The controversial Senate Immigration reform bill passed a major legislative test, but not the last by any means, when the democratic leadership managed to round up enough vote to invoke cloture on the Bill.
Infosys on Friday said it is in discussion with clients for a contingency plan to ensure business continuity in the event of the US immigration reforms bill becoming a law.
A South Asian rights group has expressed serious concerns over certain provisions of the comprehensive immigration reform bill that will pave a pathway to citizenship to some 11 million undocumented immigrants, including more than 260,000 Indians.
Industry sources told India Abroad they wouldn't shed any tears if the legislation died in the House.
The immigration Bill from a bipartisan group of US Senators will hurt US companies as much as Indian IT service providers.
The proposed immigration Bill to legalise millions of illegal workers in the United States has suffered a serious setback after a Democratic-led effort to speed up its passage in the Senate failed.
The assurance came as relief for the Indian IT services sector.
The beta of large IT firms has increased since 2008 and is expected to inch up further given the rising challenges.
IBM writes to US Congress; Premji meets Biden
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A letter issued on Monday was jointly addressed to the US commerce secretary and trade representatives.
The depreciating rupee against dollar has a short-term benefit for the IT industry and the sector should not depend on currency management for profits, a top functionary of industry body Nasscom said.
Nasscom's current president Som Mittal's term expires in January. However, Chandrasekhar, expecting to get the necessary approvals from the government soon, will start work from next month to get familiar with the organisation.
Modi will meet US President Barack Obama at the White House on September 29-30.
United States Border Security, Economic Opportunity and Immigration Modernisation Bill, 2013 has not yet been enacted.
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While cost pressures could partly offset the expected gains, given the currency hedging by companies the gains will not accrue immediately.
Even as outsourcing demand from Europe revives after the debt crisis, data protection regulations in the region governing trans-border data flows could hurt the $108 billion Indian IT-ITeS industry.
Narendra Modi and Barack Obama will ponder over ties twice over, says Nayanima Basu
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After announcing the September quarter results on Tuesday which showed a 34 per cent increase in net profit to Rs 4,702 crore (Rs 47.02 billion), its chief executive officer and managaing director N Chandrasekaran had hinted at ramping up hiring for the fiscal.
managers said the weaker rupee, which has driven up shares of technology companies, has helped the fund fetch better returns.
IT companies have, in recent times, re-invested gains arising from a weaker rupee.
Nasscom had estimated 12-14 per cent growth for the Indian software services industry in FY'14, and it aimed to achieve revenue of $300 billion for the IT industry by 2020.
The Street is especially looking forward to the management commentary to get a sense of its new direction
India on Thursday bluntly told the US that surveillance of political leaders and others in India by the American intelligence was "unacceptable" to which the US responded by saying that any differences that may exist can be resolved by intelligence communities of the two countries.
Flaring of tempers comes atop much simmering trouble on clashing views; these stands might now get frozen.
Another year of strong performance by these export-oriented sectors likely as US economy revives and rupee is expected to be under pressure.
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