By Categories: Editorials, FP & IR

Legislation has now been introduced in the US House of Representatives which, among other things, calls for more than doubling the minimum salary of H-1B visa holders to $1,30,000, making it difficult for firms to use the programme to replace American employees with foreign workers, including from India. The question is, how should India react?

But if one goes by a sudden drop in stock prices of Indian IT companies and the growing noise Trump’s advisers are making on streamlining the process of issuing visas to foreign citizens, the future prospects of thousands of engineers studying in the US is bleak. While IT giants like Google and Facebook should and will fight this out legally, the problem is the uncertainty it creates for both future employees and employers.

Below is the graph that helps explain the impact of HIB visa on different sectors. It is indeed the bread and butter of Indian IT industry.

The question of – how should India react? is more of a strategic question and requires long-term planning and investment rather than a short-term booster short. Nevertheless there is no booster shot for this to turn around in India’s favor, all India can do is strategies and chalk out plans for the future to be shock-proof, but then that’s future, the present will be of suffering, jobless and a huge deal of uncertainty. Of course lobbying and other legal means are there to fight this move, but then Trump is a business man and this is a classic business move.Raise the cost so high that the compromise will still be beneficial for the seller.(Cost of product- 20 rupees, Marketed price- 200 rupess – now how much one can bargain on this? Of course Indians are well aware of bargaining tactics, yet any bargain in H1B will favor Trump and Indian IT industry will loose some of its fat belly).

 

 

Share is Caring, Choose Your Platform!

Recent Posts

  • Darknet

    Definition:

    Darknet, also known as dark web or darknet market, refers to the part of the internet that is not indexed or accessible through traditional search engines. It is a network of private and encrypted websites that cannot be accessed through regular web browsers and requires special software and configuration to access.

    The darknet is often associated with illegal activities such as drug trafficking, weapon sales, and hacking services, although not all sites on the darknet are illegal.

    Examples:

    Examples of darknet markets include Silk Road, AlphaBay, and Dream Market, which were all shut down by law enforcement agencies in recent years.

    These marketplaces operate similarly to e-commerce websites, with vendors selling various illegal goods and services, such as drugs, counterfeit documents, and hacking tools, and buyers paying with cryptocurrency for their purchases.

    Pros :

    • Anonymity: Darknet allows users to communicate and transact with each other anonymously. Users can maintain their privacy and avoid being tracked by law enforcement agencies or other entities.
    • Access to Information: The darknet provides access to information and resources that may be otherwise unavailable or censored on the regular internet. This can include political or sensitive information that is not allowed to be disseminated through other channels.
    • Freedom of Speech: The darknet can be a platform for free speech, as users are able to express their opinions and ideas without fear of censorship or retribution.
    • Secure Communication: Darknet sites are encrypted, which means that communication between users is secure and cannot be intercepted by third parties.
    •  

    Cons:

    • Illegal Activities: Many darknet sites are associated with illegal activities, such as drug trafficking, weapon sales, and hacking services. Such activities can attract criminals and expose users to serious legal risks.
    • Scams: The darknet is a hotbed for scams, with many fake vendors and websites that aim to steal users’ personal information and cryptocurrency. The lack of regulation and oversight on the darknet means that users must be cautious when conducting transactions.
    • Security Risks: The use of the darknet can expose users to malware and other security risks, as many sites are not properly secured or monitored. Users may also be vulnerable to hacking or phishing attacks.
    • Stigma: The association of the darknet with illegal activities has created a stigma that may deter some users from using it for legitimate purposes.