The White House destroyed the Subra Singh dinner on Saturday night in a bar in Pittsburg.
Its eight Indian friends were affixed to the table, all of whom are technicians on H-1B visas, on their phones as they tried to obtain more information about US President Donald Trump’s recent move to raise the H-1B visa requests fees.
“Anxiety was clear,” said Singh, a professional in Indian biotechnology, adding that “anxiety was clear,” said that their families were sending feverish “all kinds of articles about H-1B mode.”
About 71 % and 11.7 % of H-1B visa holders in the United States are Indian and Chinese citizens, respectively. Trump’s advertisement to increase H-1B visa fees to $ 100,000 MIRES their work in the United States in the event of uncertainty.
Relations between the United States and India have deteriorated during the past few months, as Washington imposed an additional tariff on Indian exports in response to Russian oil continuous oil in New Delhi.
In India, the shares of Indian information technology companies decreased on Monday after the United States announced plans for work permitting visa to bring new employees to the country.
The effect of the stock market
This step can deal with a huge blow to companies – primarily in the technology and financing sectors – which depend greatly on high skills immigrants, especially from India and China.
If the $ 100,000 visa fee is implemented for H-1B visa applications, it will increase the cost of companies’ practice of information technology services and final blocks in the United States, which affects the margins of IT service companies, “said Citi Research in a note on Sunday.
He added that the margins of Indian information technology companies are likely to increase, because the cost of doing business in the United States “may not be fully transferred to customers.”
Investors’ reaction to the news was by getting rid of the shares of Indian outskirts, such as Infosysand Mahandra Technologyand Webroand HCL techniques and Tata Consultance Services.
Small and medium -sized companies lost the ground as well Continuous systemsand Coforgeand MPHASISISand FIRSTSOURCE Solutions and CYINT Arrows that decrease between 1.7 % and 4.2 % by 6.30 am in London (1.30 am EST).
Securities market movements indicate that investors expect the relative price to employ workers on H1-B visas useful.
Analysts suggest that information technology companies are likely to change their employment strategies as a result of new expenditures, either by sending workers to “centers close to the beach” such as Mexico or Canada, replacing H-1 B recruits with residents or citizens, or more work abroad to “global power centers” in India.
“Over the years, we have reduced our reliance steadily on visas by increasing local employment, acquisition, and partnerships,” said the external MPHASIS in a statement on Monday to investors. “We are working entirely for all the current customer requirements and we will work in the usual business.”
JPMorgan also predicted that the effect, although it is modest, will feel far from the technology sector in India.
The economist said that the decrease in the number of new H1-B visa holders is likely to lead to a decrease in transfers sent to India.
Jin also sees a decrease in Indian students who choose to go to the United States in the coming years, as a $ 100,000 visa fee may work as a new “tax” to find a job in the United States after education.
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