H1B Visa- US President Donald Trump has imposed a hefty fee on H-1B visas, which has risen to $100,000. This could harm many companies operating in the US. However, this announcement by the Trump administration could be a win-win situation for India.
Experts say that companies operating in the US that may suffer losses may hire more people in India. This means that the Trump administration’s decision to increase visa fees could also be a golden opportunity for India. This will increase job opportunities in India.
You can give a job in two ways
According to the report, these companies can create jobs in two ways. First, they can provide more work to Indian IT companies (which work for other companies). Second, they can open their own offices (GCC) in India and employ people there. The increase in H-1B visa fees has made it more expensive to bring skilled workers to the US. This will increase the cost burden on companies and reduce their profits. However, one benefit of this is that companies will hire more people in India. This will increase employment in India and, in the long run, will alleviate the talent shortage in the country. Parekh Jain, CEO of consultancy firm EIIR Trend, says that the increase in H-1B visa fees will hurt Indian IT companies slightly, as each project requires some people to work in the US and others to work from India.
But now, companies will try to outsource more work to India. Jain also said that American technology companies like Microsoft, which are struggling to find people on H-1B visas , will rely more on their GCC counterparts in India. Recruitment firms say this move by the US government could prove beneficial for India. It will bring talent back to India and provide more opportunities in the country.
Kapil Joshi, CEO of Quess IT Staffing, says that as working in the US becomes more expensive, more work will come to India. This will create more jobs in India, and people will prefer to work here. This could also bring back those who previously moved abroad. This will spark new ideas, and India will advance globally in the fields of technology and services.