According to sources in a major shock to Indian community aspiring to go to the US, the US President Donald Trump's government has tightened H-1B work visa norms which in turn may burn the profits of the Indian IT service firms further. Meanwhile US' fresh move is expected to put cost pressures on the Indian IT services firms and impact their margins due to increase in compliance and rise in onsite hiring and moreover the impact will be company specific and relative to H-1B visa dependence.
Gaurav Jain, vice-president, corporate sector ratings, Icra, a rating agency said "The changes will disqualify certain positions currently eligible for H-1B visas, thereby impeding the movement of low cost skilled labour from India and will have direct bearing on margins”. Moreover the US is also contemplating on awarding visas to the most skilled or to highest-paid beneficiaries. Accordingly Icra feels this move will work against the Indian IT services sector (H-1B dependent) as the average wage is approximately lower by 25% compared to companies that are not dependent on H-1B visas as per estimates.
Furthermore a firm is defined as H-1B dependent if more than 15% of its US
full-time employees are on an H-1B visa. He said the increased onsite hiring or
raising the compensation for H-1B visa applicants will impact companies' margins
and will be credit negative.
Madras HC orders for no flex boards for Jayalalitha's Birthday Reportedly ahead of Former Chief Minister and AIADMK supreme Jayalalitha’s birth anniversary, the Madras High Court on Wednesday refused to relax its ban on registered political parties installing flex boards, digital banners or placards on arterial roads in or any other roads in the State. Recently a Division Bench comprising of Justices M Sathyanarayanan and M Nirmal Kumar rejected
- From March 3, eateries no longer allowed to reuse cooking oil more than 3 times
- New deadline for commissioning Kerala's Vizinjam Port extended to October 2020
- COAI feels new regulations are vague to violate privacy of users
- Overall Vegetable prices in January declined 4.21%
- BJP to make alliance announcement soon: Piyush Goyal
- Priyanka Chopra, Nick had great time on Valentines Day
- Dewan Housing Finance shares slumped to an intraday low of Rs. 103.95
- Ooty Lake to be cleaned soon
- TN soldier's family and village saddened by death!
- #PulwamaTerroristAttack - Brave Father's inspiring quote after son's death in Pulwama!
- Suicide bomber was 11th class dropout!
- School girl murder mystery resolved!
- Air India flights to Iraq begins operations after 30 years
- Dhanush congratulated Sai Pallavi for beating her own record saying 200 Million
- Protest shutdown against terror attack affects life in Jammu