By leveraging Donald Trump’s H1B visa crackdown, PM Narendra Modi could boost the nation’s tech sector and create more jobs at home
Taipei: “Putting American Workers First,” reads the bold headline on the home page of the US Citizenship and Immigration Services, proclaiming: “New Measures to Detect H-1B Visa Fraud and Abuse.”
A click through to the 3 April statement outlines steps the agency will take to clamp down on the use of temporary visas for foreign workers in specialty occupations. Among the areas of focus: “Employers petitioning for H-1B workers who work off-site at another company or organization’s location.”
Indian technology companies are in the cross hairs. Outsourcing providers such as Tata Consultancy Services Ltd, Infosys Ltd and Wipro Ltd are contracted by US firms and government agencies to deploy programmers and engineers. This usually happens at the client’s premises instead of their own offices: that is, “offsite”.
Indian nationals are so dominant in the H1B program that they accounted for 195,247, or 70.1%, of all beneficiaries in 2015.
Whatever the impact on these outsourcing companies, the crackdown is already hurting the net worth of their billionaire founders as investors anticipate tightened enforcement will hurt earnings, Bloomberg News reported Wednesday. Tata Consultancy has lost about 3% since the US administration announced on 3 March it would suspend premium processing of H1B visas, lagging a 2.8% advance in the benchmark Sensex index.
That needn’t be the case.[…]
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