H1B visas no longer a showstopper : Nasscom

Chairman CP Gurnani said companies would use the tool to get products and services delivered

IT industry body Nasscom Friday dispelled fears about the possible damaging prospects of the new US immigration Bill which proposes to restrict issuance of H1B visas to Indian companies.

"Such visas will not be any showstopper in this era of technology," Chairman of Nasscom CP Gurnani told reporters in Kolkata.

He said in this age of technology, companies would use the tool to get products and services delivered.

"The companies and the US Senate can be at odds with each other. The US corporations realise that 70% of their work were being outsourced from outside," he said on the sidelines of Nasscom Product Conclave.

On top of that, visa costs were going up, Gurnani said.

He said Nasscom would make an appeal to the US administration, adding that business would prevail as usual.

"It is in their interest to buy technology," he said.

According to Nasscom, 65 of India's IT revenues originate from the US.

Nasscom jointly with McKinsey has forecast that IT revenues by 2025 would touch USD 250 billion.