IT bosses to meet Trump over H-1B reform concerns

Business leaders of Indian IT major companies are planning to meet the US lawmakers and officials from US President Donald Trump's administration towards the end of February to lobby against any major reforms to visa regulations that could adversely impact the sector.

The details of the visit is yet to be finalised, however, the chief executives of Indian IT biggies will be a part of a delegation visiting Washington in the last week of February.

Reportedly, US is one of the major country to drive country's USD 150 billion industry. As the news broke out of Trump government proposing a bill in the US congress which includes doubling the minimum wage of H-1B visa holders, all IT stocks came into a panic mode. If the bill gets approved, it would directly impact the topline of most of the IT companies working in this region.

This meeting may help the leaders to talk and resolve the evolving concerns which may arise due to the proposed reforms. They are likely to emphasise on the strong economic partnerships that the two countries hold. Antagonists of existing H-1B visa rule believes that companies are misusing the immigration policy of this working visa by hiring cheap labour from countries like India and giving away jobs to foreigners over Americans. The sentiments of Indian employees working in India was also hurt after hearing this news.

Let's hope that the investors get some good news from this meeting which could strengthen the relation between these two countries and provide a holistic solution to this chaotic situation across the market.