H-1B visa restrictions not discussed in US trade talks: Goyal
What's the story
India's Commerce and Industry Minister Piyush Goyal has confirmed that the issue of H-1B visa restrictions did not come up during his recent discussions with US counterparts. The minister said that feedback from Indian industry indicates there is little anxiety about tighter rules. He stressed that firms are confident about accessing skilled talent when needed, despite the general context of tighter rules and changes in global work models.
Work model
Shift in global work models post-pandemic
Goyal noted that the pandemic has changed global work models, reducing the need for employee relocation. He also emphasized the rise of Global Capability Centers (GCCs) in India as a major factor in this shift. "H-1B lost its significance significantly post-COVID," he said, adding that many companies are now using offshore delivery models instead of relocating employees to high-cost countries like the US and UK.
Economic impact
Growth of GCCs
India is home to around 1,800 GCCs. Goyal said their growth is helping domestic income, tax collection, the investment flows, and foreign exchange earnings. He added that employees continue to live and work in India while serving global markets through these centers. The minister also hinted at a more focused approach for the visa program in the future as fringe applications may be eliminated.