He was replying to a question on the issue at an online media briefing.
"People-to-people linkages and trade & economic cooperation, especially in technology and innovation sectors, are an important dimension of the US-India partnership," he said.
The decision by the Trump administration is going to impact a large number of Indian IT professionals and several American and Indian companies who were issued H-1B visas by the US government for the fiscal year 2021 beginning October 1.
Srivastava said high-skilled Indian professionals bring important skill sets, bridge technological gaps and impart a competitive edge to the US economy.
"They have also been a critical component of the workforce that is at the forefront of providing Covid-19 related assistance in key sectors, including health, information technology and financial services," he said.