World
Indian IT firms may face layoffs due to US visa curbs: Assocham
New Delhi, With the US tightening the norms for H-1B visas under the President Donald Trump's 'Buy American, Hire American' campaign, the Indian IT companies are bound to face disruptions by way of higher costs and even some laying off work force back home, and the rising rupee is aggravating the situation further for the technology export firms, an Assocham paper said here on Wednesday.
 
Nearly 86 per cent of the H-1B visas issued for workers in the computer space go to Indians and this figure is now sure to be scaled down to about 60 per cent or even less, the paper said. 
 
Remittances from the US would decline, hurting the balance of payment. World Bank data showed the US was the second largest source of remittance for India in 2015, behind Saudi Arabia, and about $10.96 billion, nearly 16 per cent of the total inflows, were sent to India. 
 
The industry chamber expects it to disturb the balance by 8-10 per cent.
 
As the cost pressure would increase, aggravated by rising rupee leading to lower realisations, the Indian IT firms may be forced to displace work force. "In that case, the chances of layoffs are real," said Assocham Secretary General D.S. Rawat.
 
He said the IT industry apex organisations and the government need to work out a joint strategy to deal with the unfolding situation. 
 
In the last three months, the Indian currency has gained by at least five per cent against US dollar, reducing net realisations for software exporters, among other export-oriented sectors. 
 
According to the Assocham paper, the reverses resulting from the tightening of the H-1B visas would force IT giants to effect fundamental changes in their strategies in terms of hiring, salaries, jobs, impacting employees in India too.
 
With Britain already hiking the minimum wage requirement to euro 35,000 for tier II visa immigrants, this latest move by the US will act as a definitive dampener to the Indian outsourcing industry.
 
The alternate solutions for the Indian outsourcing industry are: Investing "near shore centres" - facilities close to the US; focus on local hiring in America; and to work virtually, which is becoming easier with the wider adoption of cloud services and greater digitisation, the paper said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Find My Phone: Where on Earth Is It?!
Many a time, we tend to misplace our phone at home or in the office. The simplest way to locate it is to dial your phone from a nearby phone; the phone will ring, making it easy to find it. But what if the phone is in silent mode? It may keep vibrating in your bag or in your desk drawer and you would not be able to locate it.
 
Google has a simple solution. Go to your computer browser and, in the Google search box, type ‘find my phone’ (without the quotes). If you are already logged on to your Google account, it may still ask you for your password, for security purposes. Once your password is verified, it will start making your phone ring at full volume, even if it is in silent mode! If you are not nearby—God forbid, if you left your phone in a public place—it will show you on the Google map where it is, and it will keep ringing there.
 
Find My Phone does not let you erase the data on your phone, nor does it disable your phone remotely—there are other apps for that—but it is a very simple and effective tool to locate your phone. Of course, your Mobile Data or WiFi connection should be on, to make it work.
 
 

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COMMENTS

Sunil Rebello

5 days ago

Nifty snippet

G.W. Carlo

5 days ago

Very useful information. Thank you.

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