New Delhi, Sep 20 (IANS) The government and the IT industry’s apex body, Nasscom, are assessing the fallout of the US administration’s decision to impose a $100,000 annual fee on H-1B visas from September 21.
According to government sources, New Delhi is in touch with the Indian Embassy in Washington, DC, and is also holding consultations with the leading tech industry body Nasscom here.
The new H-1B costs are expected to affect the US companies the most, as these rely heavily on Indians for specialised and high-skilled tech roles.
According to experts, this may also trigger a new wave of global capability centres (GCCs) in India to meet the shortage of talent in the US after the new visa fee rule.
Indians hold the highest number of H1-B visas, followed by China.
Meanwhile, GCCs are preparing for a talent expansion in India, with 48 per cent of GCCs planning to increase their workforce beyond 2024 levels.
Finance Minister Nirmala Sitharaman said this week that India today hosts nearly half of the world’s Global Capability Centres (GCC), which are now at the forefront of innovation, R&D, and leadership creation.
“GCCs will consolidate India’s leadership in innovation and job creation and with the right policies, infrastructure, and skilling, this sector can define our journey to Viksit Bharat 2047,” she said while addressing the Special Ministerial Plenary and Report Back at the ‘CII GCC Business Summit’.
The US-based companies have traditionally accounted for nearly 70 per cent of total GCC absorption since 2021. In recent years, GCCs from the UK, EMEA, and APAC regions have also expanded their footprint, steadily strengthening their presence in India.
India has approximately 1,700 GCCs, with a projection to reach over 2,100 by 2029-2030.
According to CP Gurnani, Co-founder and Chief Executive Officer, AIonOS, over the past several years, the Indian IT firms have significantly reduced their reliance on the H-1B visa, with filings dropping by over 50 per cent.
“This shift is a result of our ongoing strategy to hire more locally, invest in automation and enhance our global delivery models. While visa fees may change, the impact on our business will be minimal, as we’ve already adapted to this evolving landscape,” he mentioned.
–IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
