Piyush Goyal says US H-1B restrictions could help India
Commerce Minister Piyush Goyal thinks the recent US restrictions on H-1B visas could turn out to be good news for India.
He believes these changes will encourage more remote tech jobs and boost growth for global capability centers (GCCs) in cities like Bengaluru and Hyderabad.
The US move, suspending new and pending applications under the Permanent Labour Certification (PERM) program, which is used to sponsor foreign workers for green cards/permanent residency, involves major Indian tech companies including TCS, Infosys, Wipro and HCL Technologies.
TCS expects no perm disruption
The PERM suspension mainly impacts green card processing but doesn't affect current H-1B holders.
TCS has said it expects no major disruptions since they don't rely much on the PERM process anyway.
Goyal also pointed out that many companies are already shifting work to India, using more local talent since the pandemic.
During his US visit, he emphasized that while there are some differences, India and the US remain two large democracies with significant shared interests globally.