Top seven Indian IT companies experienced a whopping 43 per cent drop in their H-1B visa approvals between 2015 and 2017, a US think-tank has said.
The National Foundation for American Policy in a report said that the 8,468 new H-1B visas for Indian-based companies in the finanacial year 2017 equaled only 0.006 per cent of the 160 million in the US labour force.
The top seven Indian-based companies received only 8,468 approved H-1B petitions for initial employment in FY 2017, a decline of 43 per cent for these companies since FY 2015, when it received 14,792 H-1B visas.
Given that 199,000 applications were filed in FY 2017 for the FY 2018 cap year – 105,000 in excess of the FY 2018 H-1B annual limit – even if none of these companies received new H-1B visas the annual limit still would have been reached on the first day of the April filing period, it said.
“The data indicate the problem is not which companies are receiving H-1B visas, which some contend, but that the 85,000-annual limit is too low for an economy the size of the United States,” it argued.
Based on the H-1B visa data obtained from the US Citizenship and immigration Services (USCIS), the foundation said that the Tata Consultancy Services (TCS) received 2,312 H-1B visas in 2017 as against 4,674 in 2015, registering a drop of 51 per cent.
Infosys, during the same period saw a whooping drop of 57 per cent from 2,83...