In a rather important development, the incumbent US President, Barack Obama, has reportedly guaranteed the Indian Premier, Narendra Modi that his government will look into the latest H-1B and L-1 Visa cost augmentations.
Last year, on December 18, the Us president inked into law the Consolidated Appropriations Act, 2016, and under it charges for the H-1B & L-1 Visa candidates were raised for recruiters/firms who utilize over 50 persons where over 50% of the workers are on either H-1B Visas or L-1A and L-1B Visas. The same affected largely the Indian owned firms in the nation.
As per a report, Modi held talks with Obama over the phone before long, post the cost increases were proclaimed even while it’s unspoken that through those dialogues, the American president gave his pledges that his government would see what could be duly done for the best to restrict the impact on the tech business of India.
In the wake of the inking of the act in question, charges for H-1B and L-1 Visas--chiefly for Indian owned groups--more than increased by 100%. While the H-1B Visa charge swelled to $4,000 from $2,000, the L-1 Visa went up to $4,500 from $2,250.
As per the National Association of Software and Service Companies (Nasscom), the fee swells will have a major financial impact on the Indian IT segment that will lead to extra costs of roughly $400 million per annum. Several Indian IT organizations reportedly stated they would get back the money, via raising customer costs.
Since the Indian tech firms happen to be the main consumers of the H-1B and L-1 Visas, and are also most expected to come under the conditions for the higher charges, they will be the most affected. While for the 2014 fiscal year, 67.4% of the 161,369 H-1B Visas proffered made their way to Indians, 28.2% of the 71,513 L-1 Visas proffered for the 2014 fiscal year made their way to Indians.
According to the Confederation of Indian Industry (CII), the visa fee increases are rather prejudiced and penalizing, merely targeted at India & Indian-centric technology groups.
American Presidential aspirants--particularly Republicans, such as Donald Trump--have allegedly been pressing for harder US immigration checks. Republicans and others have also been fear-mongering that American jobs are being snatched by foreign manpower. That the same is all part of the political speechifying before the presidential polls in the US--which is listed for November 8, 2016--cannot be allegedly refuted.
Nasscom asserts that as H-1B and L-1 Visas are given for impermanent job, American parliamentarians would do well not confuse impermanent non-immigrant visas with immigration visas. They have also urged policymakers to stop fanning the falsehood that the signing-up of overseas tech employees is hampering the employment of local experts.
Nasscom maintains that thanks to skills famines, joblessness in the US tech zone is typically lower than the national average. As per it, the notion of foreign specialists being hired on lower wages, vis-à-vis their US equivalents is ridiculous even while they Indian tech business gives the identical wage to the US employees & overseas nationals alike.
According to a report brought-out by Nasscom, last year, not only had Indian tech firms provided priceless services to the American businesses and other customers, they had made an investment of $2 billion from 2011 to 2013. They had also shelled-out $22.5 billion purely in taxes to the nation’s Treasury.
Besides, Indian IT companies maintain directly & indirectly a staggering 411,000 jobs in America. In addition, over 120,000 nationals of the US have gained from the helpful actions of the Indian tech groups, from 2011 to 2013.
Upon making public the visa fees boosts Immigration US reportedly stated that aspirants have to present an extra fee of $4,000 for the H-1B Visa petitions & $4,500 for L-1A and L-1B petitions, postmarked on or post December 18, 2015 that fall under the latest conditions for the higher visa charges.