Nifty (India stock index) edges lower as IT sector hit by U.S. visa fears

[bart95]

the transfer of wealth from the middle class to India's elite (via h-1b visas) couldnt be more clear

"Among leading decliners, India's technology outsourcing companies fell on local media reports the United States had raised the cost of processing H-1B employment visas, which is widely used by domestic companies.

The higher costs could hit profit margins at India's $100 billion technology, and raised concerns the industry could be further targeted by the United States."



http://in.reuters.com/article/2012/03/29/india-nifty-sensex-it-us-visa-idINDEE82S0BD20120329

[bart95]

1. US senator working on bill to allow more visas to Indians

dont worry, Schumer and Reid to the rescue!

http://www.firstpost.com/world/us-senator-working-on-bill-to-allow-more-visas-to-indians-254941.html

Amid Indian IT firms’ concerns over restrictive US visa policies for their employees, a top American senator has assured that he is working on a bipartisan bill that will reform immigration laws and allow
more Indians to come to America.

Influential US Senator from New York Chuck Schumer and Senate Majority Leader Harry Reid met Indian-American hotelier and Chairman of Indian-American Democrats Sant Singh Chatwal at his Manhattan hotel here on Friday.

[obnoxiousdrunk]

2. OMG those scary Indians !!!

[bart95]

3. well, you picked a good name for yourself

i'll give you that