H-1B Visa Fee Increase May Disrupt US Innovation and Employment Landscape, Warns Nasscom
New Delhi, September 20 — The recent H-1B visa fee increase, instituted by the US administration with a looming deadline, could yield significant consequences for America’s innovation framework and overall job market, asserts Nasscom, the preeminent body for the IT industry.
In response to the latest White House directive, endorsed by President Donald Trump, which enacts an annual fee of $100,000 for H-1B visa submissions as part of a more extensive reform of the skilled workforce program, Nasscom expressed concern over the rapid implementation timeline. The policy is set to take effect for entrants after 12:01 a.m. on September 21.
“A one-day deadline fosters a climate of considerable uncertainty for businesses, professionals, and students globally. Amendments of this magnitude should ideally include sufficient transition periods, facilitating organizations and individuals in effective planning and minimizing disruption,” the industry organization remarked.
Nasscom indicated that it is currently scrutinizing the intricate details of the order.
This change will also affect Indian nationals holding H-1B visas, employed by both global and Indian firms. India’s technology service enterprises will face disruptions in business continuity for onshore projects, and increased costs will necessitate adjustments.
Companies will liaise closely with their clients to navigate these transitions, Nasscom elaborated.
It is noteworthy that Indian firms have been progressively diminishing their dependence on H-1B visas, opting for enhanced local hiring in recent years.
These companies adhere strictly to all governance and compliance standards within the US for H-1B procedures, ensure payments of prevailing wages, and contribute to the local economy, fostering innovation partnerships with academic institutions and startups.
The H-1B workforce associated with these companies does not pose a threat to US national security, Nasscom contended.
Nasscom has continuously underlined the importance of high-skilled talent as a driver of innovation, competitiveness, and growth in the American economy.
This is particularly crucial at a juncture when advancements in artificial intelligence and other cutting-edge technologies are poised to shape global competitiveness. High-skilled talent remains essential for bolstering America’s innovative supremacy and long-term economic vitality. —IANS
Source link: Socialnews.xyz.
