Live Mint (2nd August 2016) – Bill introduced in US to prevent Indian firms from hiring staff on H-1B, L1 visas
Indian IT companies are heavily dependent on H-1B and L1 visas in the US, such a bill is likely to have a major impact
Washington: A bipartisan group of two US lawmakers has introduced in the House of Representatives a legislation, which if passed by the Congress would prevent Indian companies from hiring IT professionals on H-1B and L1 work visas.
Since the revenue model of majority of big Indian IT companies is heavily dependent on H-1B and L1 visas in the US, such a bill is likely to have a major impact, if not sound a death knell, on their businesses.
The ‘H-1B and L-1 Visa Reform Act of 2016’ introduced by Democratic Congressman Bill Pascrell from New Jersey and Republican Dana Rohrabacher from California would prohibit companies from hiring H-1B employees if they employ more than 50 people and more than 50% of their employees are H-1B and L-1 visa holders.
Read more at:Live Mint