HCLTech not dependent on H1B, new US regime will hardly impact biz: Exec

The new regime in the US is unlikely to affect the business of Indian IT company HCLTech as it is very less dependent on H1B visas, a senior company executive said.

"About 80 per cent of our people in the US are all locals, so our dependence on the H1B is one of the least in the industry. And it is not just now if I look back over the last 4 odd years, we have been pretty locally self-sufficient. 

 

"And that reflects in the number of H1Bs that we go through every year. It ranges between 500-1,000 in a year max...so it is minimal dependence," said Ramachandran Sundararajan, Chief People Officer, HCLTech.

HCLTech on Monday reported a 5.54 per cent rise in consolidated net profit to Rs 4,591 crore for the December quarter.

The H1B visa programme allows US companies to temporarily employ foreign workers in speciality occupations. Indian companies have been significant beneficiaries of this programme, particularly in the technology sector.

Donald Trump's return to the presidency is expected to have significant implications for the H-1B visa programme, which is crucial for many Indian professionals.

During his previous term, Trump implemented stricter regulations on H-1B visas, prioritising American workers. It is anticipated that he may continue this trend, potentially increasing competition and making it more challenging for Indian tech professionals to secure H-1B visas.

Indian-origin tech companies cornered a fifth of all H-1B visas issued by the US, with Infosys and Tata Consultancy Services leading the pack, an analysis of data from the US immigration department showed.

According to data from the US Citizenship and Immigration Services, in the April-September 2024 period, out of the total 1.3 lakh H-1B visas issued to different employers, about 24,766 visas were issued to Indian-origin companies.