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IT Cos Face a Blow Due To Subcontracting and Denial of U.S. Visas
Bangalore: IT giants are forced to contract out work than ever before in the U.S. as it has made it difficult and costlier for the Indian software professionals to travel on work in the United States, reports The Economic Times.
IT professionals in various IT companies have been denied visas and U.S. assignments due to higher costs and lower margins, further eroding their competitive advantage in a weak demand environment. As a result, these companies are forced to subcontract work to temporary consultants resulting in a large number of their engineers sitting idle without work.
The U.S. accounts for more than 70 billion dollars in software exports from India. The U.S. had made it difficult for the Indian companies to obtain visas to send their employees to work on projects assigned at the client locations. Under the regime of President Obama, visa fees have increased and so have the rejection rates of these visas.
