The biggest concern for Indian IT companies around H1B visas in the US, might be addressed soon, which is good news for the IT sector. A proposed bill in the US tabled as the 'immigration innovation act of 2013 introduced by eight senators will hike the H1B visa cap from 65,000 to a whopping 1.15 lakh. CNBC-TV18’s Kritika Saxena reports.
It has been almost a double kind of an increase. There have been several proposals that have been recommended but two key things will have an immediate impact on Indian IT companies. So, one is the H1B visa cap increase from 65,000 to 1.15 lakh.
There is also a proposal within these recommendations wherein there will be a mechanism to further increase this to 3 lakh considering the demand for H1B visas has been significantly increasing. In the last five years there hasn’t been any increase in the H1B visa cap. Ofcourse the fees have been increasing over time.
This is something that the Indian IT companies have been pushing for. In fact, we asked National Association of Software and Services Companies (NASSCOM) for a comment on this and NASSCOM says that if this is executed it will be a big boost for Indian IT companies. NASSCOM has been actively lobbying for this.
Aside from the fact that the H1B visa cap typically, gets filled by July, in fact in 2012 it was filled by July and hence people who wanted to apply for H1B visa's after that either they had to go through the L1 process or there was an entire overhaul.
Aside from that another bit that has been included is essentially raising the cap for all advanced degrees. So, science and tech workers that have been studying there will immediately get a green card, which is again a boost for Indian companies and Indian IT companies. However, we need to wait and watch to see if this executed and hence the Indian IT companies didn't want to officially comment on this considering this is still in the works right now.