What is worrying the IT majors? The proposed US immigration bill that had given nightmares to the Indian IT industry is back on the table. As per The Mint, the Bill is back on the US governments radar. And the legislators apparently have a very narrow window to approve the provisions of the same. This will naturally get all the major IT players to worry. For if the Bill is passed in its current state, it will restrict the way these companies conduct their business. There would be a restriction on the issue of the H1B visas which are used by IT companies to deploy their employees on client site locations. If the companies remove these employees from onsite locations, there would be a spike in costs. IT industry lobby NASSCOM has been lobbying hard for changes to be made to the Bill. But as of now, no one can say for sure if changes would be made or would the bill go through in the same restrictive form. If it does, then we could see margins for all IT players come under pressure. Especially for those who draw a higher proportion of revenues from the US.
Posted on: Thu, 24 Oct 2013 12:47:25 +0000
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