Modi Can Change Course of Dialogue on U.S. Visas: Murthy
BANGALORE: Exuding confidence in Narendra Modi's leadership, IT industry veteran N R Narayana Murthy said the new Prime Minister is "in a position to change the course of dialogue" on U.S. visas for the over $118 billion industry. The co-founder of India's second largest software services firm, Infosys, also praised the efforts by the new government on leveraging social media.
"A strong and intense leader like Modi will be in a position to change that course of dialogue (U.S. visa)," Murthy, who is also Infosys' Executive Chairman, told NDTV.
Indian software-export giants like TCS, Infosys and Wipro rely on visas to send employees overseas to service clients in the U.S., its biggest market and changes in the visa norms will affect their margins.
U.S. contributes 65 percent of the revenue of these firms. The Bill-Border Security Economic Opportunity and Immigration Modernisation Act 2013-proposes that firms dilute their visa dependent workforce over the next few years, a move that could force Indian firms to hire local talent. The proposed legislation was passed by the U.S. Senate and is yet to be passed by the House of Representatives. Murthy further said: "Social media is extremely important. It was heartening to see tweets by the Prime Minister about his day. I think he has understood how to communicate with the country and we will see an era of intense communication between the citizens and the government."
When asked about India Inc's expectations from the new government, he said issues like removing hassles like tax laws, role of SEZs and land issues for the industry should be dealt with.
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