On April 18, the American president Donald Trump had ordered a comprehensive review of the H-1B visa programme, the way by which American companies hire high-skilled foreign workers. The multiagency review will be in line with Trump’s protectionist policy ‘to buy American and hire American’.
This in turn would hurt remittances coming into the country from the US. Stricter immigration regulations and revision of policies in developed countries including the UK, Australia, New Zealand and Singapore, other hotspots for Indian engineers, would also have an effect on the remittances coming into the country.
Last month, Associated Chambers of Commerce of India (ASSOCHAM), the apex trade body in the country, released a paper warning of severe impact on the jobs here. It said that the new norms will affect nearly 86 percent of the H-1B visas that are issued to Indian workers in the IT, scaling down the figure in the ‘computer space’ to ‘about 60 percent or even less’.
About half of all H-1B visas have been given to Indian nationals between 2001 and 2015, according to Pew Research Center. “Most H-1B applications (75 percent) require high-level computer knowledge, and roughly half require significant engineering and math skills,” says the report. India got nearly 70 percent of H-1B visas in 2015, as per US Department of State - Bureau of Consular Affairs.
‘It’s pandemonium in India’s IT sector’, screams a newspaper’s headline as major IT companies reportedly are on the look out to slash hundreds of jobs.
Top seven IT firms in India including Infosys, Wipro and Cognizant will lay off at least 56,000 employees this year. The numbers were collated after extensive interviews with 22 former and current employees of the seven companies.
Many employees have already been axed or have been asked to resign Tech Mahindra and Wipro reportedly firing 1,000 and 600 employees respectively.
Slump in construction sector, especially after demonetisation, has affected civil engineering jobs in the country too. Also it should be noted as per Chief Financial Officer R Shankar Raman 11.6% of L&T Engineering work force shown doors during last six months.
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