India prepared for US protectionism, is the new stance.
AB Wire
With hectic activity in the US Congress to curb H-1B visas to Indian IT outsourcing companies, and efforts to make it more expensive for companies to hire foreign workers, India is slowly getting reconciled to the fact that it may have a hard path in the future as far as getting the required work visas are concerned. But they remain unfazed, as they are confident that ultimately the consumers, or the US companies who need their services, would seek them out, visa or no visa.
Indications to that effect came with India’s IT industry body Nasscom today dispelling fears about the possible damaging prospects of the new US immigration bill which proposes to restrict issuance of H-1B visas to Indian companies.
“Such visas will not be any showstopper in this era of technology,” Chairman of Nasscom CP Gurnani told reporters in Kolkata, according to PTI.
He said in this age of technology, companies would use the tool to get products and services delivered.
“The companies and the US Senate can be at odds with each other. The US corporations realize that 70 per cent of their work were being outsourced from outside,” he said on the sidelines of Nasscom Product Conclave.
On top of that, visa costs were going up, Gurnani said. He said Nasscom would make an appeal to the US administration, adding that business would prevail as usual.
“It is in their interest to buy technology,” he said.
According to Nasscom, 65 of India’s IT revenues originate from the US. Nasscom jointly with McKinsey has forecast that IT revenues by 2025 would touch $250 billion.