New York (PTI): With the Obama administration turning the wave against outsourcing activities, Indian IT major Wipro fears that restrictions on foreign workers in the U.S. could hamper its growth.
IT bellwether Infosys Technologies, too, had raised concerns that curbs on movement of working visa holders could affect its business activities.
"Restrictions on immigration in the U.S. may affect our ability to compete for and provide services to clients in the US, which could hamper our growth and cause our revenue to decline," Wipro said in its annual filing to the U.S. Securities and Exchange Commission.
In a move that could have wider future repercussions on the Indian IT sector, the American government has restricted the hiring of H-1B visa holders by entities which have received taxpayers' money.
Moreover, the Obama regime has floated a plan to end tax incentives for US companies creating jobs overseas.
According to Wipro, a major chunk of its workers in the U.S. hold H-1B or L-1 visas. An H-1B vias is a temporary work permit for highly skilled people to work in the country whereas the L-1 is an intra-company transfer visa, which only allows the employee to remain in the U.S. temporarily.
0 comments:
Post a Comment