MOSCOW, August 15 (RIA Novosti) - A new US immigration bill, S.744, could cause India’s economy a staggering $30 billion annually with the IT industry the hardest hit if it becomes law, the Indian American Advisory Council (IAAC) at the US House of Representatives' House Republican Conference said Friday.
"If the bill becomes a law, then India's GDP gets reduced by about $30 billion a year. On top of that, employment situation will be badly hit. Direct impact will be 10 million Indian IT Professionals will no longer have any work and 500,000 in the US," IAAC chairman Shalabh Kumar was quoted as saying by The Economic Times.
The bill, currently under consideration, will cut down the outsourcing of work for H1B and L1 visa holders, which include most Indian IT professionals.
According to the newspaper, the bill bans outplacement of H1 or L1 visa holders if they comprise more than 15 percent of a firm’s US workforce. The bill will also limit the number of visa holders to a proportion of 50 percent relative to a firm’s total US employees by the financial year 2017 starting in October 2016.
Suggesting that the immigration bill is a political tool, Kumar said, "About 98 per cent bill is focused on providing relief to 20 million Hispanic Americans. Democrats want them to give citizenship that will give them huge vote bank. If Democrats get that part of the bill passed, they will gain at least 10 senate seats and take control of the house."
India has no time and no voice to oppose the bill, according to Kumar. The bill can be taken up at any time and if mutually agreed upon by Republicans and Democrats, will be passed in as little as three days, The Economic Times reported. Kumar added that only 30 percent of 2 million voters of Indian origin actively cast their ballots.
The Border Security, Economic Opportunity and Immigration Modernization Act (S. 744) will impose new and onerous restrictions and higher fees on H-1B and L1 visa categories on the international IT services sector. The Economic Times claims the new bill would create an uneven playing field.
US Secretary of State John Kerry said the issue is the top priority of President Barack Obama and that it currently requires some amendments before being taken up by the Senate, the newspaper reported.
