The US government’s decision to suspend green card sponsorship processing for eight major technology companies has triggered concerns over its impact on Indian IT firms and skilled professionals. NASSCOM chairperson Srikanth Velamakanni, however, believes the move could create new opportunities for India.
Asked whether India could absorb talent, Velamakanni pointed to the opportunities created by artificial intelligence.
He said AI was making it easier and less expensive to develop products, start businesses, and raise capital. These changes could help India’s talent turn ideas into businesses, according to him.
NASSCOM Sees Limited Short-Term Impact On Indian IT
In an exclusive interview with NDTV, Velamakanni said the suspension won’t have much impact on Indian technology companies’ revenue and profitability in the short to medium term. The Trump administration has suspended new and pending permanent labour certification applications involving eight companies, including Microsoft, Adobe and six IT services firms with ties to India. The six IT services companies are Tata Consultancy Services (TCS), Infosys, Wipro, HCLTech, Cognizant and Capgemini. He also clarified that the action was not a direct suspension of H-1B visas. Instead, it concerned the transition from H-1B status to permanent residency through the green card process.
He also said the move, in fact, could encourage companies to bring more work to India and motivate talented professionals to build businesses in the country. Velamakanni said the suspension was unlikely to have a significant impact on the revenue or profitability growth of Indian IT companies in the short to medium term. Indian technology companies had already reduced their reliance on H-1B visas, which could limit the immediate impact of the decision on their operations, according to Velamakanni.
