4 min read.Updated: 08 May 2017, 04:47 AM ISTLivemint
It should aggressively voice its concern about increasing restrictions on the movement of professionals at both bilateral and multilateral forums
India’s second largest information technology company Infosys Ltd has announced that it will hire 10,000 Americans over the next two years. This comes after the US administration’s criticism that Indian technology companies are taking jobs away from Americans. Last month, US President Donald Trump signed an executive order to review the H-1B visa programme. Indian IT companies earn the bulk of their revenue from the US market and are big beneficiaries of the work visa programme. Legislation has also been introduced in the US House of Representatives, aiming to double the minimum salary of H-1B visa holders to $130,000 per annum. According to analyst estimates, this could affect the operating margins of Indian technology companies by up to 300 basis points. One basis point is one-hundredth of a percentage point.
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