US H-1B visas: Nasscom cautions US, says move may puts jobs at risk, hurt American companies-Highlights
Nasscom, the apex body for the 154 billion dollar IT-BPM industry in India stated that any step of capping the H-1B visas for technology workers will affect the growth of the American companies.
Nasscom, the apex body for the 154 billion dollar IT-BPM industry in India stated that any step of capping the H-1B visas for technology workers will affect the growth of the American companies. Nasscom - which represents Indian IT majors like TCS, Infosys and Wipro as well as smaller tech firms mentioned the negatives for both US and India due to the limit on H-1B visas:
-It will weaken the US companies growth, as companies mostly depend on these skill sets
-It will put jobs at risk
-US has 7.5 Billion unfilled jobs (67 per cent required technical skills) - so, the need for Indian techies is high
-The move will create pressure on US to send technology service to rest of the world
-This will create impact on USD 150 billion Indian IT sector(get big share from the N. America market)
-There is already a row between US and India over trade and tariffs
-It could lead to a greater crunch for businesses to access the skilled workers they need
-Only a small share of these Indian nationals( H-1B visa holders) are employed by Indian companies, the majority of them are sponsored by global and US multinationals
Nasscom also noted that there is no official confirmation yet on the development from the US government on the matter and that it is awaiting clarity from official channels.