Jaitley makes ‘strong case’ for H-1B in meet with US officials
WASHINGTON: Union finance minister Arun Jaitley made a “strong case” for reforms in the H-1B and L-1 visas and in social security contributions in his meetings with the US secretaries for commerce and treasury Wilbur Ross and Steven Mnuchin on the sidelines of the World Group meetings on Thursday.
H-1B visas allow US-based companies to hire highly skilled foreigners and L-1 visas allow intra-company transfers to the US from overseas. Both are extremely popular with Indian firms operating in the US. The firms have been worried about the review of the process ordered by President Donald Trump.
“He made a strong case for reforms in H1B/L1 visa processes and social security contribution so that high calibre Indian professionals serving American interests are not unfairly deprived of their well-earned money,” a finance ministry statement said.
Social security contributions have been a long-standing issue between India and the US. These are salary deductions from employees to contribute towards retirement benefits. The deductions from salaries of Indians working here do not transfer to India when they return, unlike citizens of some other countries that have a transfer treaty with the US.
Jaitley also spoke to the two secretaries about “structural reforms India has undertaken through a series of bold measures, including the Goods and Service Tax , financial inclusion and action against the shadow economy”, the statement said.
He is in Washington for the annual meetings of the International Monetary Fund (IMF) and the World Bank and other associated meetings. He is accompanied by RBI governor Urjit Patel, economic affairs secretary Subhash Chandra Garg and other officials.