Biden emerges as bright spot for Indian I-T biz’s growth drive

NEW DELHI: Nasscom on Sunday welcomed Joe Biden’s win in the US Presidential election, and said the Indian IT industry looks forward to working with the new administration in pivoting technology, skills and digital transformation for the US. The US is the biggest market for the Indian IT sector, accounting for a lion’s share of the industry’s revenue.

“NASSCOM congratulates US #PresidentElect @JoeBiden on his win. We look forward to working with him and his administration in pivoting technology, skills and digital transformation for the United States,” it said in a tweet. Nasscom has projected a revenue growth of 7.7 percent at $191 billion for the IT sector in the ongoing fiscal. The industry has added a net 2 lakh jobs, taking the overall workforce to 4.36 million.

Indian IT players will keep a close watch on Biden’s approach and policies related to H-1B work visas that are used by a large number of Indian technology professionals.

In June, during the COVID-19 pandemic, US President Donald Trump banned the entry into the US of workers in several key non-immigrant visa categories, including H-1B, until the end of the year, arguing that they eat into American jobs.

Those affected include the family members of the H-1B, L-1, and certain categories of J1 visas. Later, the Trump Administration announced certain exemptions in H-1B and L-1 travel bans for those continuing employment with the same employer, a

TALKING POINT

move that could help Indian IT professionals and those working in the healthcare sector.

The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Companies depend on it to hire tens of thousands of employees each year from countries like India and China. In a statement, Nasscom said its member companies have an important history in the US. “… they work with over three-quarters of the Fortune 500 companies in the US, providing them vital technology services and helping them innovate, compete, and grow,” it said.