India stronger despite tariffs and visas difficulties!
JP Morgan’s Asia-Pacific head, Shord Leenart, has said that despite the world’s difficult economic conditions, India remains a shining country i.e. ‘bright spot’ in terms of investment. Especially India’s domestic economy is strong and it is not very dependent on exports, so it is in a more safe position than the rest of the countries.
Recently, the US has imposed a huge tariff on India, but Linart believes that India can withstand the shaking of this tariff and will keep itself strong financially. He said that India’s strong domestic demand and diversity will help it to move forward.
H-1B visa change and effect
US President Donald Trump has recently implemented new rules for H-1B visas, in which a new fee of $ 100,000 will also have to be paid for this visa. This visa is especially important for Indian professionals, because Indians have more than 70% share on this visa. Leenart said that although this rule may bring some challenges, it is a good thing that the existing H-1B visa holders will not be harmed by it. Apart from this, the full impact of this change is not clear yet.
The purpose of Trump’s rule is to save American jobs, but on the contrary, it may increase the cost of American companies and forces them to increase their technical centers in countries like India. Many global technology and financial companies are increasing their centers in India, which are taking advantage of India’s talent and cost benefits.
JP Morgan’s increasing confidence in India
Leenart said that JP Morgan has increased by 20% in the last two years in both his presence and number of employees in India. The bank provides investment banking, corporate banking, asset management, payment and security services here. It has large corporate centers in Mumbai, Bengaluru and Hyderabad, which help in technical and commercial operations.
Apart from this, JP Morgan’s M&A chief Anu Iyenger said that the number of IPO (initial public issue) starting this year in India can be more than any other country. This shows that the trust of investors in India’s stock market is increasing and this is an emerging market.