Tata Consultancy Services does not see concerns over the restrictive clauses in the proposed US Immigration Bill impacting IT spend of its clients.
“Clients know what is going on. Wherever required we are in discussions (with clients)… Discretionary spending in the US is higher than in Europe,” TCS Chief Executive Officer and Managing Director N. Chandrasekaran said at a news conference today. The Bill, which is before the House of Representatives, proposes several changes, including higher visa costs and increase in wages for H-1B visa holders (temporary job visa). If approved by the House of Representatives, the Bill will be signed into a law by US President Barack Obama. Many of the proposals will hurt the over $100-billion Indian IT services industry as the cost of operations could rise significantly.
The country’s largest software exporter is keen to work with clients and regulators in the US to see what changes it would need to make if the US Immigration Bill is passed into a law.
“In the current economic environment where growth is a problem and some countries are faced with unemployment issues, discussions about how local employment can be boosted are to be expected. We will engage in the whole process,” Chandrasekaran added.