Nasscom dismisses fear of possible restriction of H1B visas

Kolkata, July 15 (IANS) IT industry apex body Nasscom on Friday ruled out any detrimental effect of the new US immigration bill to restrict issuance of H1B visas to Indian companies.

"Such visas will not be any showstopper in this era of technology," said NASSCOM chairman C.P. Gurnani on the sidelines of the 'Nasscom Product Conclave'.

"The companies and the US Senate can be at odds with each other. The US corporations realise that 70 per cent of their work were being outsourced from outside," he said.

He said that the industry association planned to make an appeal to the US administration and hoped the business would prevail as usual.

According to Nasscom, 65 per cent of India's IT revenues originates from the US.

The industry body jointly with McKinsey has forecast that IT revenues would be at $250 billion by 2025.