Oh cry me a river,



The business model for Indian IT consulting is to replace skilled Americans, mandate they train Indian guest workers, use loopholes in the law to have Indians pay no or minimal taxes in the US.

Despite the 'fake news', there never has been a shortage of skilled, experienced US IT workers. The globalists cite new grad only to create a shortage. The huge pool of unemployed / underemployed proven, experienced workers is ignored.

January 6, 2017 11:49 AM
Indian outsourcing firms hit by U.S. proposal to restrict skilled visas

A bill being proposed in U.S. Congress aimed at limiting the outsourcing of jobs and reform the country’s high-skilled immigration program is weighing on Indian IT consulting and software stocks.

Tata Consultancy Services Ltd. fell as much as 3.3 percent, the most since Nov. 9, while Infosys Ltd. shares fell as much as 2.8 percent to their lowest intraday price since Dec. 12. Tech Mahindra Ltd. fell 4.5 percent. The Sensex Index was mostly unchanged. The bill is designed to make it harder for companies in the U.S. to bring in skilled workers from abroad to fill high-tech jobs.

Any restrictions on skilled labor, provided by consultants and programmers from India, could impact the business activities that Tata, Infosys and other firms provide for U.S. companies. The visa program has become a hot-button issue in the U.S. because of concerns it is used to replace American workers with lower cost employees from abroad. It was a major campaign issue during the presidential election, particularly for Donald Trump, who will take the oath of office later this month.

Across Charlotte, H-1B visas have seen rising demand from employers, who have filed requests for thousands of foreign workers in recent years. Companies ranging from big banks to information technology firms are among largest filers for the visas in Charlotte.

“With Trump talking during his campaign about changing immigration laws and curbing outsourcing of IT jobs, the timing of this reintroduced bill is worrying Indian IT Services industry a little more,” said Bimal Raj, a partner at Mumbai-based investment banking firm Singhi Advisors.

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Read more here: http://www.charlotteobserver.com/news/bu...l#storylink=cpy