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H-1B visa suspension unlikely to impact operations, says Infosys
1 min read.Updated: 16 Jul 2020, 07:55 AM ISTAgencies
Infosys said in the short-term, it doesn't see any impact of the H-1B visa ban
Infosys said its focus on localisation has helped them as more than 60% of its employees are visa independent
IT major Infosys has said that it does not see any impact of the H-1B visa ban by the US government. "On the H1-B visa, obviously it doesn't really make any logical sense...various independent studies have clearly demonstrated the value that Indian IT service providers bring to the US economy and how they make the American companies very competitive. Having said that, in the short-term, we don't see any impact," Infosys COO UB Pravin Rao said in a post-earnings conference.
US President Donald Trump had last month signed a proclamation to suspend issuing of H-1B visas along with other foreign work visas for the rest of 2020. Indian IT companies are amongst the worst hit by the move.
Rao, however, said due to travel restrictions caused by the coronavirus pandemic, the move is unlikely to make any difference.
He also pointed out that Infosys' focus on localisation has helped them as more than 60% of employees are visa independent. "This we started about two, two-and-a-half years back and since we made the announcement in May of 2017, we have recruited more than 13,000 US nationals. So from our perspective, we are entirely de-risked and even in the medium to long term, we don't see an impact, we're fairly comfortable," Rao said.
Infosys, which had over 2.39 lakh employees at the end of June 2020 quarter, saw 61.5 per cent of its revenues come from the North American market. Europe accounted for 24 per cent of the USD 3.1 billion revenue in June quarter, while India and Rest of the World geographies contributed 2.9 per cent and 11.6 per cent of the quarter's revenue, respectively.