The Indian Government has declared that it is look forward to the dialogue with the US at the WTO which is being held on 11th and 12th May 2016.
The Government also hopes a positive engagement will take place with the US, considering the steps that have been taken by it, on the fee matter in the categories of H-1B and L-1 visas. Implementation of that can impact the Indian firms and IT professionals from India.
The categories of non immigrant L-1 and H-1B visas for which there was significant increase in visa fee, match with the categories of intra firm transferees and specialists, that are part of commitment made by the US under Trade in Service General Agreement of WTO.
These categories are extensively utilized by Indian suppliers, particularly in IT sector, giving services in the US. Both the nations share a joint helpful and inter-reliant ties in the service trade, The US gets around 60% of the software exports from India, where as Indian IT professionals are playing a positive role in contributing towards the economy of the US.
The increase in the volume of business in services has played an important role in contributing towards both generating job prospects and economic development in the US.
The steps taken by the US to increase the fee for categories of L-1 and H-1B visas are not just impacting the competitiveness of Indian service industry but also creating uncertainties for service suppliers from India.
Last Month, India had taken this matter to the body of dispute settlement of WTO against its steps of fee increase on applicants for H-1B and L-1 categories. India has specified that this step would impact its IT professionals. It is predicting that the dialogue during the consultations would be productive and will result in eliminating the discouraging steps for business between two nations.
