US President Donald Trump's executive order imposing restrictions on H1B visas came as a shock to all countries and especially Indians as more than 70% of the Indians are in USA on H1B visas. Warning bells started ringing and NASSCOM decided to take the matter with the USA as soon as possible.
Even Ministry of External Affairs assured that it will take the matter with Trump's administration. Speculation is increasing that PM Modi will raise the issue during his meeting with US President Trump when he visits USA.
IT stocks nose dived and many top MNCs like Microsoft expressed their opinion against Trump's executive order. Though it takes time for the order to be passed by the senate, since most of the Democrats are supporting the bill, it will soon turn a reality.
Now people should not miss the ten things in the proposed H1B visa bill. The H-1B visa programme allows US employers to import foreign workers with “highly specialised knowledge”. Trump administration can reduce the cap on H-1B visas or raise the fees or auction them, which is a source of anxiety for US tech firms, which outsource jobs mainly to India.
Here are the important points.
1. The US gives 65,000 H-1B visas each year and an additional 20,000 more for foreign students in US.
2. The US Department of Homeland Security said that 70 per cent of the 65,000 H-1B visas in 2014 went to Indians.
3. About 3 lakh to 3.5 lakh Indian engineers are on H-1B visas in US+ , say industry estimates.
4. In 2016, till August, Indian workers had got 72 per cent of total H-1B visas issued worldwide.
5. During the same period, Indian workers also received 30 per cent of all L1 visas.
6. The big advantages of L1 is that there there is no cap on the number to be issued every year.
7. According to the proposed order, firms would have to try to hire American first. If they recruit foreign workers, priority would be given to the most highly paid.
8. The move, if it goes through, could change the way US tech giants like Microsoft, Amazon and Apple hire talent.
9. It would also force wholesale changes at Indian companies such as Infosys and Wipro.
10. A bill in the US House of Representatives+ calls for the minimum salary for an H-1B visa to be doubled, to around $130,000 per annum from the present $60,000.
