'U.S. Immigration Bill Can Lead To $30 Bn/Year Loss To India'

NEW DELHI: The Indian economy could lose $30 billion annually with the IT industry being the hardest hit if the Immigration Bill under consideration in the U.S. Congress becomes a law, Indian American Advisory Council of House Republican Conference of US Parliament has said. DH file photo for representational purpose only.

The Indian economy could lose $30 billion annually with the IT industry being the hardest hit if the Immigration Bill under consideration in the U.S. Congress becomes a law, Indian American Advisory Council of House Republican Conference of U.S. Parliament has said.

The IAAC, which advises U.S. House of Representatives on India related issues, stated the 'U.S. Immigration Bill S744' calls for significantly cutting down on outsourcing of work for certain visa holders that is mostly used by Indian firms and professionals.

"If the bill becomes a law, then India's GDP gets reduced by about $30 billion a year. On top of that, employment situation will be badly hit. Direct impact will be 10 million Indian IT Professionals will no longer have any work and 500,000 in the U.S.," IAAC Chairman Shalabh Kumar told PTI.

He said most of the Indian IT professionals are either working on H1B or L1 visas.

H1B Visa allows U.S. companies to employ foreign professionals and L1 allows employee of an international company to temporarily transfer an employee to a parent branch or subsidiary of the same company in the United States. The bill bans outplacement of H1 or L1 visa holders if they form more than 15 per cent of a firm's U.S. workforce.

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