Clar­ity on H-1B Visa after Feb 9: Nir­mala

The Economic Times - - Economy: Macro, Micro & More -

New Delhi: Gov­ern­ment will get more clar­ity on the im­pact of US Pres­i­dent Don­ald Trump’s new H-1B visa pol­icy after meet­ing IT in­dus­try body Nass­com and USbased com­pa­nies after Fe­bru­ary 9, com­merce min­is­ter Nir­mala Sithara­man said on Mon­day. She said though there will be an im­pact of Trump’s visa poli­cies on In­dia, the gov­ern­ment will not rush to give its view.

A leg­is­la­tion has been in­tro­duced in US House of Rep­re­sen­ta­tives that calls for more than doub- ling the min­i­mum salary of H-1B visa hold­ers to $130,000, mak­ing it dif­fi­cult for firms to use the pro­gramme to re­place Amer­i­can em­ploy­ees with for­eign work­ers.

Speak­ing on the bud­get, the min­is­ter said the gov­ern­ment would let reg­u­la­tors and min­istries con­cerned de­cide upon FDI pro­pos­als that fall un­der the ap­proval route after the phas­ing out For­eign In­vest­ment Pro­mo­tion Board (FIPB). She said FIPB was an added layer in the process of clear­ing FDI pro­pos­als and its remo- val will add to the ease of do­ing busi­ness. She how­ever did not com­ment on ar­eas the gov­ern­ment is con­sid­er­ing lib­er­al­is­ing un­der cur­rent FDI regime.

Be­sides, the gov­ern­ment is yet to take a call on Ap­ple’s de­mands for set­ting up a plant in In­dia. “We are sup­port­ing high value man­u­fac­tur­ing in In­dia…gov­ern­ment does not take a de­ci­sion for one com­pany but the whole sec­tor,” Ramesh Ab­hishek, sec­re­tary, Depart­ment of In­dus­trial Pol­icy and Pro­mo­tion, said. —Our Bureau

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