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India’s IT Companies are worried about President Trump’s H-1B Bill

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SAN FRANCISCO (Diya TV) — India is the largest exporter of IT workers to the U.S., but the country could be jolted if President Trump’s H-1B Visa Bill, which was tabled in the House of Representatives Tuesday, becomes law.

India’s largest IT firms — TCS, Infosys, Wipro and others — enjoy significant cost advantages by shipping their homegrown engineers to the United States. These same companies will likely be hit hard if the minimum salary cap for H-1B visas is raised to $130,000 from its current $60,000.

The stock values of four top IT companies in India plummeted Tuesday on the Bombay Stock Exchange in the wake of the announcement the proposal had made its way to Congress.

Meanwhile, the National Association of Software and Services Companies (NASSCOM),denounced President Trump’s proposal. “The bill does not treat all IT service companies with H-1B visa holders equally, and the provisions are biased against H-1B dependent companies,” NASSCOM said in a statement.

“The bill does nothing to address the underlying shortage of STEM-skilled workers, which has led all companies to have a calibrated strategy of hiring locally and bridging the skills gap by bringing skilled workers on non-immigrant visas including H-1Bs,” it added.

India just so happens to be the world’s largest recipient of H-1B visas, more than one million were issued to citizens of the South Asian nation in 2016. Indians accounted for 70 percent of the entire program in 2016. This had led critics to worry that Indian companies wouldn’t shoulder the impact alone — America’s Fortune 500 companies are deeply invested and dependent on their IT army of workers from India.

“Skilled foreign workers who come to work in the US by the route of H1-B visas don’t just directly supplement the US IT industry with specialized skill sets, they also contribute indirectly to other industries in the US. Often H1-B workers bring their families along and thereby bring additional business for other industries like real estate, banking, hospitality to name a few. The effects of this announcement will impact the GDP and the overall business economy and growth of US,” says Sanchit Vir Gogia, chief analyst at Greyhound Research.

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Lewandowski spars with Rep. Jayapal in impeachment probe

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Lewandowski

WASHINGTON (Diya TV) — Former Trump Campaign Manager Corey Lewandowski sparred with Rep. Jayapal among others, before a House Judiciary committee, taking on a barrage of questions from members of Congress who are trying to build a case towards the impeachment of President Trump.

100,000 petitions were delivered to the Gates Foundation in Seattle, asking them to rescind the award they plan on giving to Indian Prime Minister Modi for his clean India initiative because of his stance on Kashmir.

Federal investigators, including the FBI, are looking into potential misconduct by Mithril Capital, a venture capital firm co-founded by Peter Thiel and Ajay Royan. Royan has a 20 year relationship with Thiel and has raised in excess of $1 billion, $300 million of which came from Thiel. Some investors are frustrated Mithril is sitting on their money rather than investing in startups, while raking in as much as $30 million per year in management fees.

Hundreds of alums from the Indian Institute of Technology gathered in Southern California for their annual convention, featuring some of the brightest minds in technology.

Ravi Kapur contributed to this report.

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India may offer to cut import duties, for U.S. goods

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India

NEW DELHI (Diya TV) — India has a road map in place to spend $130 billion over the next 5-7 years to modernize their armed forces and bolster their combat capabilities over their neighbors. The plan includes procurement of a slew of weapons, missiles, air defense systems, fighter jets, submarines and developing infrastructure for use of AI.

Meanwhile, India and Russia are increasing industrial cooperation and will create new technological and investment partnerships, especially in high-tech, with the goal to increase bilateral trade to $30 billion by 2025.

And to help Indian’s space agency ISRO establish a communication link with Vikram, the moon lander lying motionless on the lunar surface, NASA is sending hello messages. NASA’s Jet Propulsion lab beamed a radio frequency to Vikram to establish contact, but no luck so far.

Ravi Kapur contributed to this report.

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FBI: Amity CEO Ridhima Singh, others accused of major healthcare fraud

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Amity

SAN FRANCISCO (Diya TV) — The FBI says, CEO Ridhima Singh of Amity Home Health Care is among the 28 people, that include doctors and nurses, accused in the scheme. Federal prosecutors charged the Bay Area’s largest home health care provider, Amity Home Health Care, with involvement in a kickback scheme that led to $115 million in tainted claims. The complaint said medical professionals received $8 million worth of bribes disguised as payroll, phony medical directorships, reimbursements, entertainment or gifts, in what the Department of Justice said was simply “a cash for patients scheme.”

The man accused of stabbing and killing 62 year old Parmjit Singh in Tracy made his first court appearance. 21 year old Anthony Kreiter-Rhoads of Tracy pleaded not guilty of homicide during his arraignment. Police are still investigating the motive behind the crime.

And Priyanka Chopra & her husband Nick Jonas were named by People Magazine as their pick for ‘Best Dressed of the Year.’

Ravi Kapur contributed to this report.

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