According to Nasscom, the legislation which was introduced by the two US Senators proposing 15,000 H-1B visa cut would be counterproductive for the growth of the US tech industry.
The two US Senators who had proposed the bill targets the outsourcing firms that depends on the low-wage overseas employees who replaces evenly qualified US professionals. The proposal would also have the impact on the IT industry of India as this H-1B visa is highly accepted and well availed.
Presently, the US grants a most of H-1B visas yearly. Nasscom has some reasons to show that why this visa cut if it is implemented would hit the US.
According to Nasscom, If this H-1B visa bill is passed, along with some other restrictions, it will need the US employers to strive for employing a citizen from the US and then proceed to employ this visa holder only if they cannot do so.
This H-1B visa policy compensates the US for shortage of skilled employees that also balances the immigration with many steps for encouraging the STEM related studies and training for the citizens of the US. This bill has done nothing for addressing the main cause of the problem, STEM skill shortage in the US, where the immigrants on this H-1B visa fills the gap in the economy of the US and also positively affect the ability of the US based firms to access the international talent.
Scarcity of the software developers, computer scientists and the programmers in the country is getting compounded as their demand all over the sectors in the economy of the US is only increasing. Many studies had pointed to four fold rate of vacancy increase in the STEM related jobs in the US compared to the other sectors.
India and the US built a strategic partnership across different sectors and identified that the free movement of the potential talent is the vital success factor for the partnership. The protectionist or the discriminatory steps will adversely affect the Indo-US business. - As told by Nasscom.