H-1B Visa Rule Changes: Recently, a new debate has erupted in America regarding H-1B visa. There is a constant demand for amendment in visa rules. How much will the amendment in the rules affect Indian companies? Let’s know about this.
H-1B Visa Rule Changes: After the election of the new President Donald Trump in America, now the demand for change in H-1B visa has started rising. The reason behind this is that American analysts argue that foreign workers (especially Indians) are taking over their jobs. Due to which work opportunities for them are decreasing in their own country. Now the question arises that if there is a change in visa rules, how much will it affect Indian tech companies? Let’s know about this.
According to experts, major Indian companies like TCS and HCL Technologies will benefit from the possible visa reforms. Even if their visa sponsorship is less. Changes in visa rules will promote Offshoring Model (a way of transferring the work of a company abroad) in India. According to the report of ET, the US is currently facing a flat salary proposal and a shortage of good local experts.
The latest report of Macquarie Research is shocking. According to Macquarie, getting local skilled labor in America is a challenge. H-1B visa can play an important role for Indians to overcome the shortage of technical talent. The cost of living in America is many times higher than in India. Economic disparities can increase due to uniform salary. According to the report, if the US has to avoid the loss of change in visa rules, then the salary slab will have to be fixed according to local expenses.
Brokerage had recommended change
Recently, the brokerage had recommended making changes in H1-B visa like Norway. Which included the demand to change the skilled work permit system to a temporary non-employer specific work permit. It was cited that this would bring security and transparency in the rights of labor. The sense of competition will also increase among them.
Talking about the financial year 2024 (October 2023 to September 2024), more than 61 thousand firms collectively demanded 79.6 percent for the issuance of H-1B visa. Amazon sought the highest number of sponsorships at 2.7 per cent, with 3,871 visas. Tata Consultancy Services Ltd (TCS) sponsored 1 per cent (1,452 visas) and firms like HCL Technologies Ltd sponsored 0.9 per cent (1,266 visas).
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