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Indian IT Services Firms have Greater Insulation from H-1B Visa Disruption
- Indian IT services firms have shown greater resilience to H-1B visa challenges due to proactive measures in localising workforce and aligning wages.
- Companies like Accenture, TCS, Wipro, Infosys, and HCL Tech have not highlighted issues with H-1B visa rejections in recent earnings calls.
- H-1B visa denial rates increased under Trump's administration, impacting IT services companies heavily reliant on skilled foreign workers.
- Indian IT firms have reduced dependency on H-1B visas over the past decade, leading to better insulation from visa program disruptions.
- Increased focus on local hiring and talent development in the US has decreased reliance on visa-based talent for Indian IT companies.
- Indian tech firms have contributed over $1.1 billion and partnered with numerous educational institutions in the US to strengthen the STEM pipeline.
- Foreign-born workers, including H-1B visa holders, played a significant role in AI innovation in the US, filling talent gaps and driving technological advancements.
- Concerns persist regarding wage obligations for H-1B workers and recent US immigration enforcement measures involving Requests for Evidence and biometrics for visa applicants.
- Trump-era policies aimed at fiscal stimulus, such as reducing corporate tax rates, may benefit the IT sector by boosting client spending on IT services.
- Overall, Indian IT services firms seem well-prepared to navigate potential disruptions in the H-1B visa program and immigration-related policy uncertainties.
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