116929 Investors following Infosys. Share this News with them.
0
Like this story, share it with millions of investors on M3
Rejection of L-1 visas on sharp rise: Sources
On the back of several and frequent speeches by President Obama in the US promising to create more jobs for Americans and targeting specifically companies in India and China, here is some worrying data.
On the back of several and frequent speeches by President Obama in the US promising to create more jobs for Americans and targeting specifically companies in India and China, here is some worrying data. There has been a sharp and unprecedented rejection in the number of visas issued to Indians, reports CNBC-TV18's Sunanda Jayaseelan quoting sources.
These rejections that we are talking about are not limited just to L-1 visas. L-1 visas are a category of visas which is a non-immigrant visa and it is usually for intra-company transfers and applies both to highly skilled workers as well as mangers on projects. It is a short term visa and is valid for upto three years.
While the USCI, the US citizenship and immigration services is yet to publish its latest date on how many visa have been issued, sources have confirmed that rejection rates have increased in FY11. Now Infosys and TCS have said that rejection rates have gone up to nearly 50% of all L-1 visa's that they have applied for.
Wipro , on the other hand, tells me that rejection rates have also increased, close to almost double. Visa rejections rates across the industry last year were only about 10-15%, and tits not just rejection rates which have gone up. Based on USICS data, request for evidences have also gone up to almost 63% in FY11.