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US Green Card Pause: Opportunity or Obstacle for India?
10 Oct
Summary
- US suspends green card sponsorship for eight tech giants.
- NASSCOM chief sees potential opportunities for India.
- Move may encourage companies to shift work to India.
The US government has suspended green card sponsorship processing for eight prominent technology companies, including Microsoft and Adobe, as well as Indian IT giants like TCS, Infosys, and Wipro. This action, affecting permanent labor certification applications, has drawn criticism regarding the misuse of H-1B visas.
Despite the concerns, NASSCOM chairperson Srikanth Velamakanni suggests the short-to-medium term impact on Indian IT firms' revenue will be limited. He posits that this situation could conversely encourage companies to relocate jobs to India, aligning with the principle that 'work will move to where the labor is.'
Velamakanni further elaborated that such shifts could attract both work and capital to India due to its strong talent base. The suspension might also inspire Indian professionals, unable to secure permanent residency in the US, to establish startups in India, fostering economic growth. Advancements in AI are seen as further catalysts, reducing barriers for Indian entrepreneurs to develop products and raise capital.
