Narayana Murthy, has suggested that Indian IT firms should stop using the H-1B visas, instead utilize local employees to get the job done. He was talking to NDTV on the issue of US President Donald Trump’s recent step towards regularization of H-1B Visas and its impact on Indian IT industry.
Murthy was very blunt while suggesting that Indian IT companies that they should stop sending Indians abroad on H-1B Visas, on the other hand these firms should hire local employees.
He also suggested that the firms must recruit local talent and train them so that value addition is witnessed with increased efficiency and effective management.
Murthy said that Indians are of mindset which always look for soft option. While claiming that becoming multi-cultural is a tough thing, he said that this is the only option to handle such regulatory risks. He suggested that Indian firm should become multi-cultural.
The US President has proposed an overhaul of the H-1B visa regime, proposing the 100% increase in the minimum wages of H-1B visa holders to USD 130,000 from USD 60,000. This may lead to decline in the profits of Indian IT firms due to significant rise in the salaries of H-1B holders.