With less than a month to go as another US President for Trump’s inauguration, there are ominous signs for Indian IT companies regarding H1B visas which is utilised by Indian businesses to send workers to the United States.
Indian IT companies happen to be waiting to see what Trump does with the programme that was H1B. Matters Won't go well for the Indian IT sector if it's anything that he has been promising.
Speaking to supporters in Iowa, President-elect Donald Trump said he would not permit foreign workers to replace Americans. "We'll fight to protect every last American life," he said referring to cases of Disney World as well as other US businesses where American workers have been displaced by Indian or alternative foreign workers.
This is the second time post his election that Trump has promised actions against them and has referred to workers who arrive at the USA on H1B visas. The very first time was when he released an address.
Because lately, he proposed the name of Jeff Sessions as the following Attorney General, Trump’s statements assume particular significance. Sessions have assaulted it in many forums and is a known and an old opposer of the H1B programme.
All these would damage Indian companies.
Indian companies are among the biggest beneficiaries of the H1B programme.
The seven India-based companies that had the most H1B petitions approved for new employment in FY2015 received 14,610, or about 13%, of the total approved new requests that year.
Because a great deal of Indian IT’s company comes in the US Indian companies will damage. Also, the Indian IT sector is heavily dependent on export earnings which are $108 billion out of a whole sector revenue of $143 billion. Over 60% of this comes in the US that will be the most vital and largest market for Indian IT companies. More than 80 per cent of Fortune 500 businesses is serviced by Indian IT firms.