Increasing Visa Costs Could Eat Into Profits Of Indian IT Companies
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matter during the past even as it has also engaged Washington DC in discussions urging more transparency in visa regulations & interpretations.
For the IT companies from India, the most common classes of visa are L1 and H-1B. During August 2010 the fees were hiked for both, even as changes are being likely in the migration rules & regulations of the US. As America constitutes as much as 60% of the revenues generated by the IT sector of India, firms from India constitute a very crucial segment of the professional visa applications in the US.
During 2010 Washington DC had increased visa fee–a development that New Delhi has been expressing its voice against at various platforms. Several firms from have been influenced by the US action on visa fee increase for the qualified persons. In the backdrop of the rates of unemployment still at an all time high across the US & the elections for the post of president round-the-corner, anti-outsourcing chorus are becoming stronger even as it may negatively influence the overall business of the IT companies from India.
Such firms, on their part, are boosting their onshore presence to face such developments. In this connection, the other day the concerned parties reportedly approached the US President, and urged for the relaxation of the rules for gaining the L1 permits. They claimed that inordinately long delays, and a high rate of refusal for the L1 permits, were not doing any favors to the Indian companies, and not making it any easier to do business in America for them.
In the backdrop of the US visa fees for their employees heading north, many IT firms from India–such as Infosys & the TCS–could have to put up with mammoth costs, which, in the process, may seriously compromise with their overall margins of profit. Complex visa rules & regulations, more so in the US–one of the most vital markets for the software firms from India–have already negatively impacted their operating margins during the first quarter of the present financial year even as the situation is not expected to become any better during the future quarters.
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