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India’s information technology (IT) sector will face temporary setback to move workers from India to the US with the bill introduced in the US House of Representatives that mandates minimum wages of H1B visa holders at $130,000, double the current limit.
“This is a significant blow to the Indian IT sector. There will be ramifications of it from both the US and India. This bill should ideally have been backed by the aspect of availability of skills as well and not only increasing the minimum wage,” said Sanchit Vir Gogia, Chief Analyst and CEO of Greyhound Research.
[Source]