Changes To H1-B Visa Poised To Hurt Indian IT Firms
The recent change in the rules making it easier for advanced degree holders to obtain an H1-B Visa will negatively impact profitability for IT firms, as the number of overall visas issued will likely drop.
From the article on Greatandhra.com:
In December 2018, the United States Citizenship and Immigration Services (USCIS) proposed reversing the process for H1-B selection favouring advance degree holders.
This is likely to lead to 10 per cent reduction in H1-B visa approvals for regular applicants, where the applicant is without an advance degree masters or higher from US universities, ratings agency Icra said.
Increased onshore hiring associated with higher wage bill along with factors such as pricing pressure on commoditised services, wage inflation and lower revenue growth will negatively impact the margins going forward, it said.