H1B Visa Curbs In USA

H1B visa curbs will hit India's growth story• By tightening H1B visa rules, the Trump administration is

hitting at the core of India's growth story for there is a one-to-one correlation between growth of software exports and India's economic growth in the last two decades.

• An acceleration in India's economic growth in the early 2000s was accompanied by a spurt in services exports, especially information technology.

• Similarly, a slowdown in gross domestic product (GDP) growth since the 2008 Lehman crisis was preceded by a deceleration in services exports.

Blow for Indian IT: New US bill proposes doubling wage limit for H1B

visa• India's information technology (IT) sector will face

temporary setback to move workers from India to the US with the bill introduced in the US House of Representatives that mandates minimum wages of H1B visa holders at $130,000, double the current limit.

• IT stocks reacted negatively on the Bombay Stock Exchange as investors panicked over US President Donald Trump plans to keep his electoral promise of imposing tougher immigration rules on the H1B visa plans.

• This is more than double of the current H1B minimum wage of $60,000 which was established in 1989 and since then has remained unchanged.

US tech firms to be affected by Trump's visa

threat• India’s information technology industry will face short-term challenges if the Bill to double minimum wages for H1B visa-holders is passed in the US Congress. The impact will be felt by American technology companies such as IBM, Accenture and Microsoft, which have been sending Indian engineers on these visas to the US.

• A California lawmaker Zoe Lofgren on Tuesday introduced a Bill in the US Congress requiring companies that employ workers on H1B visas to double their minimum pay to $130,000 a year, the first revision  proposed in nearly two decades. The legislative process will take time.

New H1B visa rules in US: Minimum wage hike may have little impact on

firms• With the US Congress re-introducing a Bill to impose stringent laws for H-1B visa holders, Indian information technology (IT) services firms may have to look for higher local hiring there.

• The proposed new Bill would want workers holding H-1B visas — which are used by a large chunk of employees from Indian IT companies — to be paid a minimum of $100,000, up from $60,000 currently.

• The Bill, Protect and Grow American Jobs Act, will remove the Master’s degree exemption from H-1B visa norms. 

Wage hike for H1B visa holders in US push Indian IT for local

hiring• With US Congress reintroducing bills to impose stringent laws for H1B visa holders, Indian IT services firms may have to look for higher local hiring there. The proposed new bill would want workers holding H1B visas, a large chunk of employees from Indian IT companies use this visa, to be paid a minimum of $100,000, up from $60,000 currently. The bill, Protect and Grow American Jobs Act, will remove the Master's degree exemption from H1B visa norms.

• Even if the Indian IT services providers see a minimal impact on margins with the wage hike, they will have to focus on more local hiring, say industry analysts.

• While Trump won the US presidential elections over promises of bringing back jobs to the US, last month he said that his administration would not let H1B visa holders replace the jobs of US citizens in the wake some.

Thank You