Indian IT firms will cough up more money thanks to new H-1B visa rules
Indian IT firms in the United States will have to cough up 40 per cent more as the new H-1B visa rules will increase onsite costs. US President Donald Trump has made it clear that IT firms will have to hire more Americans and this in turn would put to technology companies saving costs.
White House took some aggressive action on the H-1B visa holders with its new policy to crack down on immigrants who take away local jobs. At a presser on April 17, a White House official said, "It's the only program that was mentioned by name is the H1B visa.
But the departments and agencies are asked to crack down on fraud and abuse generally in our immigration system." According to a transcript on the website of the White House, Indian IT companies -- Tata Consultancy Services, Infosys and Cognizant are the top recipients of the H-1B visa. "hey apply for a very large number of visas, more than they get, by putting extra tickets in the lottery raffle, if you will, and then they'll get the lion's share of visas," it also read.
This only means that Indian IT firms will now have to hire more staff in the US which in turn would escalate costs. The rough estimate suggests that onsite costs would go up by at least 40 to 50 per cent.