India's largest software exporter Tata Consultancy Services is brainstorming to figure a way out of the HIB visa trap and may be forced to raise the count of its overseas employees especially Americans.
If US legislators have their say, TCS chief financial officer S Mahalingam admitted in an exclusive chat with NDTV Profit that the company will be forced to hire more overseas employees if new bill is passed.
More overseas employees would mean more pressure on the bottomline of the IT companies who earn more than 60 per cent of their revenues from the US and are already bruised with clients demanding price cuts on contracts.
Thus, the very fundamental business model of cost arbitrage is challenged.
"There will be more changes in manpower strategy as well as changes in business model to counter H1B visa norms,” he said.
Indian IT companies are hoping the H1B visa legislation is softer in its final version not just the Indian companies even multinationals are hoping for the same as it will give them a cost control lever.
It is time for some serious lobbying for the Indian IT industry
while the US lawmakers debate the bill.
No comments:
Post a Comment