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News >> Technology >>
H1B curb to hit TCS's prospects
By siliconindia staff writer
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Friday, 11 June 2004, 19:30 IST
MUMBAI: A restriction and 200 per cent cut on the number of H1-B visas for Indian nationals visiting and a backlash against outsourcing in the US is likely to have an "adverse impact" on the future prospects of Tata Consultancy Services Ltd (TCS).
"Most of our employees are Indian nationals and providing services in US, Europe and other countries depend on our ability to obtain necessary visas and work permits," TCS said in its draft prospects filed with Securities and Exchange Board of India (SEBI).
TCS' software professionals work in US on H1-B or L-1 visas, and with that country reducing H1-B visas on October one, 2003, to 65,000 from the earlier 1.95 lakh, would limit the company's ability to conduct operations in US, it said.
Further, US government has also increased the level of scrutiny in granting visas, apart from hiking visa processing fees, it said.
The demand for H-1B visas would "continue to be high", but these restrictions would make it difficult to obtain "as many H-1B visas as in the past", it added.