Tech industry body National Association of Software and Service Companies (Nasscom) on November 6 said it will work closely with the new US administration under Donald Trump on areas such as artificial intelligence (AI) and cybersecurity.
Though the final tally is yet to emerge, it is clear that Trump will be sworn back as the President after four years. With wins in key battleground states such as North Carolina, Georgia and Pennsylvania, the Republicans have wrested back control of the US Senate from Democrats.
"Nasscom looks forward to working closely with the new US Administration to strengthen the dynamic tech partnership between our two nations... we look forward to collaborating on various areas including AI and cybersecurity," the industry body said in a statement.
The US is the largest market for India's $254-billion tech sector, with the sector contributing around $80 billion to the US Gross Domestic Product (GDP). "Importantly, the industry plays a key role in supporting US companies in strengthening the US economy," Nasscom further said.
With Trump's return to the US presidency, tech circles speculate whether tougher entry barriers will be introduced for IT companies that depend on H-1B visas to bring in skilled talent. This is because of Trump's past record wherein attempts were made to limit companies’ ability to hire software engineers in the US using the H1-B visa route.
The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in specialty occupations such as Science, Technology, Engineering, Mathematics (STEM), IT, etc. IT companies such as TCS, Infosys, HCLTech, and Wipro, among others, send their employees to the US on these visas.
In 2020, when Trump was the president, the US labour department issued a rule raising the minimum wage of an H1-B visa holder to that of any other US worker. However, the rule was blocked on procedural grounds.
"Conversely, India is a prime destination for American businesses, with over 1,000 U.S. companies that are driving innovation and leveraging India’s digital infrastructure to create competitive solutions," Nasscom added in the statement.
Also read: Trump’s return: IT companies might have to face tougher H-1B visa rules
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