US President Donald Trump on Monday signed an executive uncover limiting federal companies from contracting or subcontracting international workers. That is hurting Indian IT consultants who work in the US on H-1B visa.
H-1B is a non-immigrant visa that permits US companies to rapidly disclose international workers in enviornment of abilities occupations. A enviornment of abilities occupation requires specialised data and a bachelor’s level or the same work abilities in areas similar to data abilities (IT), finance, accounting, architecture, engineering, arithmetic, science, medication, and loads others.
Speaking of the market’s reaction, IT stocks slipped today time. Your entire Nifty IT index declined nearly one per cent. Among person stocks, Tech Mahindra traded over 2.5 per cent lower while HCL Tech and L&T Infotech were down over 1.5 per cent.
Trump stated “H-1B must be outmoded for prime extremely paid talent to perform American jobs, now not as more cost effective labour programmes and kill American job.”
One in all the participants present at some level of the signing of the uncover instructed the president that as many as 70 per cent of the H-1B visa goes to contributors from India. Trump stated he favours a merit-essentially based immigration machine that brings in high-skilled contributors that creates jobs at some level of the US and now not attach jobs of Americans.
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