India is worried that a brand new US invoice designed to limit the choice of highly expert staff coming into will closely impression the usa’s IT industry.
The bill introduced to the united states house of Representatives proposes doubling the minimum salary of H-1B visa holders to $ one hundred thirty,000 from $ 60,000.
Congresswoman Zoe Lofgren, introducing the invoice, stated it could cease companies “replacing” American staff.
India’s foreign ministry stated it had expressed subject to the usa.
“India’s interests and considerations have been conveyed both to the usa administration and the united states Congress at senior levels,” a observation from the ministry mentioned.
Indian media companies have described the transfer as a huge setback to the IT industry.
The proposed new law mainly targets foreign corporations primarily based in the us that usher in international employees on the visa quota.
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A senior professional from India’s IT physique advised the BBC that the bill was “disappointing”.
“the new bill does now not treat all IT companies with H-1B visa holders equally,” Shivendra Singh, vice-president and head of world trade building of the national association of tool and services and products firms (Nasscom), informed the BBC.
“If the objective is to protect American employees, then this bill will defeat that objective. corporations that aren’t dependant on H-1B visas will proceed to herald professional employees on lower wages so as to nullify the entire function of saving US jobs.”
Amar Ambani, the head of research of India Infoline, said that if the invoice have been implemented, it would be “horrible” news for India’s IT sector.
“greater than 50% of their revenues come from that market. And this comes at a time when India’s IT sector is already facing challenges to enhance their margins and profitability,” he instructed the BBC.
The H-1B has a cap of 65,000 visas each monetary 12 months, consistent with US Citizenship and Immigration services. round eighty five% go to Indians, a lot of whom work within the IT trade.
The phrase H-1B is the highest trend on Twitter in India.
BBC news – business