H1b

Restrictions On H1b Visas Is Bad News; We Can’t Target 8-10% Growth If Globalisation Is Reversed

... seem to be a big concern for the Centre that is completing almost 3 years now. Is slowdown in private funds affecting job creation. Jobs depend upon all kinds of factors. Whether you can get exports up, investments up, consumption up, everything contributes to growth. But clearly we also have to get private investment up. I think private investment is essential in keeping growth high on a sustained basis. There are limits on how much governments can invest, they have to balance fiscal rectitude with this. So I think in the medium term investments and exports have to be the basis for growth. I think that, therefore, exports to some extent are starting to pick up, it’s not fantastic, but starting to pick up. The world economy improves as the IMF is forecasting but private investment (is weak) due to the twin balance sheet ...

Silicon Valley Lawmaker Introduces H-1b Reform Bill

... for visas from Indian and Chinese nationals due to country quotas. As a result, many stay on H-1 Bs while they wait. Because H-1 Bs are tied to employers, it is difficult for these workers to change jobs. Vikram Desai, vice president of nonprofit Immigration Voice, estimates there are 1.5 million of those workers in the U. S. He says Lofgren's bill would help them get visas sooner, giving them more job mobility. Lofgren, who introduced the bill on her own, would need bipartisan support for her bill to have any chance of success. A separate bill, introduced last week by Representative Jason Chaffetz, a Republican from Utah, also seeks to replace the per-country immigration caps with a first-come first-served system. Senators Chuck Grassley and Dick Durbin, both long-time H-1 B reform advocates, introduced their bipartisan H-1 B reform bill on Friday. Earlier this month, Representative Darrell Issa introduced "modest" legislation to boost the salary requirement of those applying for an H-1 B. If you're an immigrant in the tech community and are worried about Trump's proposed immigration policies, please get in touch. CNNMoney (New York) First published ...

Recent Changes To The H1b Visa Program Are Still Favorable

... there will no longer be an automatic revocation. The USCIS set conditions for the non-automatic revocation to apply. The rule clearly states that as long as the approval has not been revoked for fraud, material misrepresentation, invalidation or revocation of a labor certification, or material USCIS error, the petition will continue to be valid for various purposes including (1) retention of priority dates; (2) job portability under INA §204(j) and (3) extensions of status under AC 21 § 104(c) and 106(a) and (b). Three-year extension after sixth year. Considering that immigrant visas are not readily available because of numerical limitations imposed by law, the H 1 B employee may request for a three-year extension instead of a the one-year increment. The extension request must show proof that the ...

Trump Targets Tech's H-1b Visa Hiring Tool

... in America," Ganesan says. The Partnership for a New American Economy concluded in a 2016 report that 40.2% Fortune 500 firms had at least one founder who either immigrated to the United States or was the child of immigrants. Those firms generated more than $4.8 trillion in revenue in 2014 and employed 18.9 million people globally, the report found. Well-known tech firms founded by immigrants, including Google, Intel, Yahoo, and Ebay. Elon Musk has created tens of thousands of U. S. jobs with Tesla and Space X, hails from South Africa. Musk, who is on a new presidential business advisory committee that will meet Friday, was one of a handful of top tech CEOs who met with Trump in New York shortly after the election. At the time, Trump told the assembled leaders of Amazon, Facebook and other household names that "there’s nobody like you in the world … Anything we can do to help ...

Sensex Falls 194 Points As Economic Survey Projects Lower Gdp

... Tue, Jan 31 2017. 05 34 PM IST. Sensex falls 194 points as Economic Survey projects lower GDP. BSE Sensex closed down 193.60 points, or 0.70%, to 27,655.96, while the Nifty 50 fell 71.45 points, or 0.83%, to 8,561.30. Subscribe to our newsletter. BSE Sensex fell on Tuesday. Photo: Hindustan Times. Mumbai: There were signs of anxiety in the market as the Sensex on Tuesday slumped 194 points ahead of the budget—to be presented on Wednesday—to a one-week low of 27,656 and the Nifty slipped below 8,600 after the Economic Survey projected a lower growth of 6.5% for 2016-17. The recently introduced immigration restrictions by US President Donald trump and the new legislation that aims to rework the H 1-B visa programme dealt a blow to IT stocks, which saw a big fall. TCS, Wipro and Infosys dropped by up to 4.47%, dragging down the BSE IT index by 2.96%, followed by technology that tanked 2.49%. The Economic Survey for 2016-17, tabled in Parliament by finance minister Arun Jaitley on Tuesday, underscored the need for more reforms. Its GDP growth forecast for this fiscal is lower than the 7.1% put out ...

H1b-industry 2 Last

... sector cant be filled. He also pointed out that the bill provisions apply only to those companies which have 50 per cent of their workers on H 1-B, "leaving a loophole that nullifies the strategic purpose of protecting American workers". Gartner Research Director DD Mishra said the IT companies are already working on a highly optimal onsite presence. "There is very little room to manoeuvre and optimise it further other than replacing it with locals. The risks to the IT services sector include an increase in cost per professional, more local hiring and a disruption in service continuity, which may have a negative impact on profitability of companies that are visa-reliant," he told PTI. Availability of key skills will be limited as well and it will have an impact on wage and productivity which some IT companies are worried about, Mishra added. Meanwhile, shares of TCS plunged by 5.46 per cent to touch an intra-day low of Rs 2,206.55 ...

Trump, Tech Tycoons Talk Overhaul Of H1b Visas

... the sources said. He said he wanted to stop "bad people" from immigrating to the United States, not "great people," according to one account of the meeting. Among proposals the group discussed was raising the cost of applications from large companies as a way to discourage bulk filing for the visas. Asked by Trump if they would object to that, none of the tech CEOs said they would. "In our view, the president-elect is not hostile to H-1 B visas," said one of the sources familiar with discussions at the meeting. While Trump could initiate some changes to the visa program with executive action, significant shifts would likely need to go through a lengthy formal rulemaking process, said Stephen Yale-Loehr, an immigration expert at Cornell Law School. Major changes would likely be subject to court challenges, he said. Other reforms, like changing the visa cap or offering more green cards to high-tech workers, could require Congressional action, Yale-Loehr said. A ...

Don't Give Silicon Valley More H1b Visas

... Now Silicon Valley heavyweights are lobbying Washington for even more waivers. In a letter dated November 14, a lobbying group whose members included Twitter, Netflix, Facebook, and Google urged President-elect Donald Trump to increase the number. “The U. S. immigration system must allow more high-skilled graduates and workers to stay in the United States and contribute to our economy,” wrote Michael Beckerman, president of the Internet Association. Last week, tech big shots like Apple CEO Tim Cook, Alphabet CEO Larry Page and Microsoft CEO Satya Nadella met with Trump in New York. You can bet the pitch was similar. Their economic argument, that the industry suffers from a shortage of workers, is false and misleading. Big tech companies take advantage of the H 1 B program to drive their bottom line. The law permits companies to lay off their own employees in favor of foreign workers doing the work in the states or overseas. Think about that. The law does more than look the other way at firms that hire foreign workers instead of American ...

The H-1b Visa Issue Explained

... an annual cap of 65,000, and an additional 20,000 visas are granted to employees with master's degrees from American universities. If the number of applications exceeds the cap, the government conducts a "lottery" to decide who gets to stay. Every year 6,800 visas are reserved for workers from Chile and Singapore in accordance with free trade agreements those countries have signed with the U. S. Last year the the government said it received 236,000 H-1 B petitions in April when the filing period began. This was despite a fee hike of $4,000 for certain petitioners. Either this demand for H-1 B visas is a sign of a desperate shortage of eligible workers in the U. S. – or alarm bells should be going off since companies could be abusing the system. There are provisions in place to make sure employers are paying their workers the prevailing wage and not ...

Panic Over Trump’s H1b Visa Curbs; E Ahamed Passes Away

... the impact of demonetisation. 2. In UP, Growing Disquiet Within RSS and BJP Over Tickets. Volunteers of the Rashtriya Swayamsevak Sangh. (Photo: Reuters). There is growing disquiet within a section of the BJP and the RSS over the allocation of tickets in Uttar Pradesh. Torching effigies of party national president Amit Shah and state chief Keshav Prasad Maurya, protests blocking Shah’s vehicle on his recent visit to Lucknow, holding Faizabad BJP MP and party’s district president virtual hostage in Ayodhya – party insiders say this is the first time that such resentment has boiled over so close to the election. The RSS has six state units in UP and at least four of them are said to have expressed their reservations against what they call “arbitrary ticket distribution” to “outsiders and relatives” instead of those who have worked on the ground. Also Read. 3. H 1 B Visa Restrictions: Tech Stocks Plummet. (Photo: i Stock Photo, Reuters). Tech stocks took a beating Tuesday and the National Association of Software and Services Companies (NASSCOM) said the US Bill proposing the ...

The Message From H1b Visa Reforms

... “this too shall pass”. The game has irrevocably changed and the government of India and Indian technology companies need to embrace this new reality and act accordingly. Free trade is based on Adam Smith’s thesis of comparative advantage; trading leaves both partners better off. Certainly outsourcing has created a lot of jobs and prosperity in India. However it hasn’t done so at the expense of American jobs; rather, by enabling US companies to innovate and be more cost-efficient, India’s technology companies have helped US companies grow and create more jobs in their core businesses. For instance, at the heart of virtually every engineered product whether a Cisco Systems router, a General Electric engine or scanner, or Skype, is code written in India. By taking on uncompetitive IT operations and dying technology products, and ...