INDIAN IT firms may be relieved that proposed changes to the H-1B visa programme are unlikely to become more restrictive. However, the adjustments could still significantly impact their cost structures, hiring strategies, and workforce dynamics in the United States, their largest market.
The proposed revisions, which include raising minimum wage requirements and introducing additional fees, may lead to a permanent shift in cost structures for Indian IT services firms.
Zubin Morris, partner at Little & Co, highlighted the financial impact of higher wages. "Indian IT firms, which have traditionally benefited from lower labour costs, would face substantially higher salary obligations to comply with these norms. Margins on US projects might shrink as firms absorb higher wage costs," he said.
This story is from the December 31, 2024 edition of Financial Express Lucknow.
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This story is from the December 31, 2024 edition of Financial Express Lucknow.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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