H1B Visa Restrictions A Challenge For Indian Firms, Says NASSCOM

Tech stocks took a beating and NASSCOM said the US Bill proposing the High-Skilled Integrity and Fairness Act of 2017 to more than double the minimum wages for H1B workers will pose a big challenge to the Indian information technology sector. The Bill introduced in the US House of Representatives proposes to more than double the minimum wages for H1B workers from the current $60,000 to $130,000, and to prevent high skill jobs from going to non-US citizens. In a statement NASSCOM said that though the bill is a long way from becoming law but it does pose dangers to Indian IT companies which receive the largest share of the 65,000 H1B work visas issued by the US every year. The Lofgren Bill is the first introduced in the US since Donald Trump took charge as President on January 20.