Indian IT services firms relying less on H1B visas

Published On: Wednesday, July 1, 2020 | By: Team KnowMyStock

The recent move by the Trump Administration to ban employment visas until December is unlikely to have any impact on Indian IT firms. According to the US Citizenship and Immigration Services data, the share of Indian companies among the top 10 visa recipients has dropped from 51 percent to 24 percent during the 2016-19 period. For the financial year 2019 ended September (immigration cycle), global technology firms were the major beneficiaries of the H1B visa programme. It allowed temporary migration of workers for a specific job in the US. Indian information technology (IT) services firms’ reliance on non-immigrant visas has been falling over the years as most companies pursue an aggressive localisation strategy. Apart from the large technology majors, even large financial institutions and retailers were the beneficiaries of this temporary work visa program.

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