US companies move highly skilled jobs to India, China |
The move to restrict H¬1B visas by successive American governments has led to several US ¬based multinational companies shifting highly skilled jobs to countries such as India, China and Canada. For every three visa applications that were rejected, US companies have moved one job offshore over the last decade and a half, as they looked for talent in high technology areas. Indian nationals account for 70% of the work permits issued by the US to high technology professionals. Limiting skilled immigration prompted US multinational firms to go offshore; when these firms couldn`t hire the skilled workers they needed at home, they simply hired them at their foreign affiliates instead. According to data from Nasscom, currently, over a third of India`s $136¬billion IT services exports comes from MNCs with global in¬house centres or captive centres. A study found that the number of GICs in India has also increased to over 1,250 in FY19 from about 1,000 in FY15, with market size rising to $28.3 billion from $19.4 billion over the same period. Companies that are fighting to be innovative and build new products to stay ahead of the competition have no option but to move work offshore as under the current administration the norms have gotten much more restrictive.
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