'Govt, industry need to tackle challenges of globalisation'

There is a greater need for the industry and government to work together to tackle the challenges brought on by a "new phase of globalisation" where protectionist forces are gaining ground, Nasscom President R Chandrashekhar said.
He described the global environment as one marked by volatility, uncertainty, complexity and ambiguity (VUCA).
"This industry is well known to be a major driver of constant change that we see around us. But as we head into a new phase of globalisation, where anti-globalisation and protectionist forces have acquired new way, these global challenges cannot be met by the industry acting alone. It needs government support," he said.

He added that the larger context is that there is a backlash against globalisation.
"It is also translating into a kind of protectionism. We have to make sure that our channels remain open because while they are pursuing their protectionist and anti-globalisation policies, they are asking us to open up our markets. You can't have a one-way street," he told PTI.
Over the past few years, there have been growing instances of protectionist measures taken by countries such as the US and the UK, like visa fee hikes.

Last week, the UK announced that beginning November 24, the minimum salary threshold for Tier 2 inter-company transfer visas, which are usually used by the Indian IT industry, will be increased from 24,800 pounds to 30,000 pounds. The long term visa cost will go up to 41,500 pounds.

Chandrashekhar said the acronym VUCA, which was coined a few years back, can be seen across various arenas globally.
"We live in turbulent times... Times since and the present day have fully lived up to that cryptic description in every sense -- political, economic, technological, social and cultural," he said.
Nasscom has already expressed disappointment with the UK government's decision to implement the proposed changes to its visa system that will affect skilled IT migration.
The announcement comes close on the heels of British Prime Minister Theresa May's visit to India this week.
As responsible corporate citizens, Nasscom members comply

with all applicable laws and regulations, employ over 100,000 in US and support efforts towards local hiring and skill building, Chandrasekhar said.
"Now is the time to identify new measures that will maximise the synergies between our nations, create jobs in the US and India, and expand bilateral trade and investment," he added.
The delegation also met key Congressional staff and officials in the White House, the Department of Homeland Security, and the Office of the US Trade Representative.
The group attended a reception for the National Governors Association at the residence of Indian Ambassador Navtej Sarna that was also attended by more than 25 US state governors, along with CEOs of US and Indian companies and key government officials.

Last month, Nasscom had met with a delegation of members of Congress visiting India, including House Judiciary Committee Chairman Bob Goodlatte.