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Mumbai: Donald Trump’s election comeback has led some to consider what his second term as US President could mean for Indian workers and students looking to move to the US. After all, his election promises of more jobs for American citizens and tighter immigration controls were causing some consternation.
That said, domestic education and visa advisors are banking on Trump’s other rhetoric – to revive the US economy – to at least open a path for India’s much-coveted technology workers and students attending highly skilled courses. For.
“The US economy needs a skilled (immigrant) workforce and India may be better placed than China to address this,” said Narayanan Ramaswamy, partner and head-education and skill development practice at KPMG in India. However, he added that “the real impact will play out in a few years” depending on how the US economy shapes up.
Trump’s moves will be especially keenly watched by India’s information technology services companies, as the US is the largest market for most of these companies. IT services companies send employees on temporary work visas to the markets where their customers are located. In June 2020, during his previous term as US President, Trump had suspended the issuance of all H-1B work visas, including to Indians.
The Nifty IT index rose 4% on Wednesday amid early trends pointing towards a Trump victory.
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A big demographic to watch their moves will be Indian students, for whom US colleges have always been the top choice – even more so now that Canada and Australia have capped the number of international students. According to a Mint report in April, even more 260,000 Indian students went to America In the 2022-2023 academic session, an increase of 35% compared to the previous session.
Akshay Chaturvedi, founder and CEO of Shiksha, said, “On immigration, Trump 2.0 has already shown incredible clarity – from more welcoming decisions on international students who bring in dollars and fixing the talent gap, to increasing illegal infiltration at the borders. Makes strong statements.” Consultancy leverage.biz.
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‘Mixed situation, but stable’
Mohak Nahta, chief executive of US-headquartered visa application platform Atlas, said Trump has proposed giving automatic green cards or permanent residence to foreign nationals who graduate from US colleges.
“If implemented, this policy could be beneficial (for Indian students) as it is in line with their goal of retaining skilled graduates in high-paying jobs that support the local economy,” Nahata said. However, he said that while the US “might” restrict H-1B visas to some extent, it was likely to retain those who have studied in the US.
The US typically grants 85,000 H-1B visas each year. Of this, 60,000-65,000 visas are given through lottery and the rest to highly qualified employees. The H-1B visa allows US employers to hire foreign nationals to the US on a temporary arrangement. Companies can also use L1 visas to acquire employees onshore.
However, Madhur Gujar, co-founder and chief business officer of study abroad platform Amber, said Trump’s recent proposal for automatic green cards for graduates and support for a merit-based immigration system would be favorable for India’s study abroad market. .
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“This focus on retaining high-skilled graduates could be beneficial in maintaining the flow of talented students from India, the largest source of international students to the US, which increased last year for the first time since 2009/10,” Gujar said. The bar has passed China.” , adding that he does not expect any major policy changes in the near term.
Chirjit Sengupta, managing partner of tech consultancy Everest Group, hopes Trump’s election victory will signal a phase of stability for Indian technology outsourcing companies.
“While some of Trump’s visa stances have been tough, he has also historically acknowledged that India’s technology workforce adds significant value to the US ecosystem,” he said, adding, “though it is a mixed bag.” “Indicates that, overall, India’s tech jobs ecosystem should remain stable.”
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