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The new US, UK Visa Rules are a Challenge for Indian IT Sector in 2018

December 2017, 29
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BVR Mohan Reddy Former NASSCOM Chairman has said that the new visa rules, proposed by the US, the UK, and Australia are likely to pose a serious challenge, for Indian IT Industry in the next year, even when the sector, crosses the USD 150 billion mark.

In 2018, the demand side may not see any major challenge to a growth of 8 to 10 percent.  The regulatory challenges emanating from the new visa regimes in the USA, UK, Australia, Singapore, as well as other countries, will reduce the mobility of the people, and affect the flexibility in expanding businesses.

In 2017, the Indian IT industry saw the growth of demand for IT and IT-enabled services of 8-10 percent, on constant currency terms, and was better than the yearly estimates.  The new technologies are being adopted, at a pace faster than originally anticipated by the industry. On the supply side, re-skilling or up-skilling the employee base, in the new technologies, proves to be a serious test, in meeting the demands of customers.

The Growth is slow owing to automation, Artificial Intelligence, and machine learning. There is protectionism from various countries in the world; but there is an upsurge of opportunities, seeking technology solutions, in the domestic market.

The Start-up India program has caught the imagination of the people, and 5,900 start-ups have so far been recognised by DIPP.

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