The havan-puja held at many places in India for the victory of Donald Trump in the US presidential election seems to be bearing fruit. Donald Trump’s victory is confirmed and he will be the new President of America in the coming days. But now the big question is what changes will happen in the whole world if Donald Trump becomes the President? What effect will this have on the world economy? Not only this, will this lead to loss of jobs in IT industries in India?
To know how Donald Trump’s becoming the President of America will affect Indians, we will have to look at his work during his previous tenure. Also, this time the issues of his election campaign have to be understood. This will give a bigger picture.
Trump’s immigration policy, H-1B Visa and jobs
Donald Trump has been very vocal about immigration policy during his election campaign. He has made it clear that he will limit the H-1B visa program. Indians are going to suffer the most because if there is a change in this policy then everything from visa rejection to processing fees will increase. Whereas those going to work on H-1B visa may also have to face higher wage inflation.
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Indian IT professionals depend on this visa to work in America. Indian IT companies also take advantage of this. In such a situation, Trump’s immigration policy will affect everyone from Indian IT companies to IT professionals.
According to a report by JM Financial, the last time Donald Trump became President, he passed an executive order. ‘Buy American and Hire American’. This point has been continuously emphasized in his election campaign this time also. Difficulties in obtaining H-1B visa had increased even during his first term.
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However, in the same report it has also been said that the impact of H-1B visa on companies may be limited this time, because Donald Trump has indicated to reduce corporate tax. It may come down from 21 percent to 15 percent. In such a situation, the costs of American companies will reduce, due to which they can hire outsiders.
How important is H-1B Visa for India?
Of the H-1B visas issued by America in the year 2022, more than 72 percent were issued only to Indians. H-1B visa allows Indians to work in America even after completing their graduation degree. Not only this, with this visa it is also possible to work with more than one American employer. At the same time, you get the freedom to take your family along with you to America, and family members can also take jobs there.
After working on H-1B visa for a long time, people also get a chance to get permanent citizenship of America. However, now it has a fixed limit every year and due to this the waiting time for Indians getting green cards through H-1B visa has become longer. This is now more than a decade long wait.
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