Asserting that Indian IT companies are net creators of jobs in the USA, NITI Aayog CEO Amitabh Kant today said that it is surprising that the US has suddenly changed stance and started talking about protectionism when it came to IT companies.
"Indian IT companies are net creators of jobs in USA. They have 41,000 jobs in USA. Actually, jobs being created by Indian IT companies have been growing," Kant told NDTV.
Noting that the US had advocated globalisation in manufacturing, the NITI Aayog CEO said, "...But suddenly when it comes to IT companies, the US has started talking about protectionism."
Kant pointed out that it is important to understand that within the US there is shortage of people who are good at technology, engineering and management.
"It will take them years to fill the gap," he said.
The NITI Aayog CEO's statement assumes significance in the wake of the US President Donald Trump's scheduled visit to Milwaukee, Wisconsin -- the home state of House of Representatives Speaker Paul Ryan -- to sign the 'Buy American, Hire American' Executive Order.
The order is expected to tighten the process of issuing H-1B visas and potentially create an "entirely new structure" for awarding these visas mostly used by technology companies.
Any change in visa norms can affect the movement of labour as well as spike operational costs for IT players.
Indian IT firms like TCS, Infosys and Wipro, who are dependent on visas, are now focusing on bringing on board more locals to comply with the norms.
Most Indian IT companies get over 60 per cent of their revenues from the North American market.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)