“If the bill becomes a law, then India’s GDP gets reduced by about $30 billion a year. On top of that, employment situation will be badly hit. Direct impact will be 10 million Indian IT Professionals will no longer have any work and 500,000 in the U.S.,” IAAC Chairman Shalabh Kumar said.
He said most of the Indian IT professionals are either working on H1B or L1 visas. H1B Visa allows U.S. companies to employ foreign professionals and L1 allows employee of an international company to temporarily transfer an employee to a parent branch or subsidiary of the same company in the United States. The bill bans outplacement of H1 or L1 visa holders if they form more than 15 per cent of a firm’s U.S. workforce. (PTI)