TCS is the only Indian firm amongst the top 10 recipients of H-1B visas
Amid a rampant wave of anti-immigrant sentiment in the US, IT services giant TCS has emerged as the only Indian firm on the list of top 10 international firms to receive H-1B visa certification, issued to foreign professionals with special expertise. EY topped the global list of firms.
The increasingly stringent regulations on US-based companies which employ foreign workers have created an uncertain environment for the global workforce operating in the US. Obtaining a visa for a foreign employee has become increasingly expensive and complicated for American firms.
One of the visa programmes most hard hit by the new policies is the H-1B visa type, which essentially allows firms to employ foreign nationals with special expertise, albeit with temporary and non-immigrant status. One set of reactions to the new complications has been to look inwards and train American professionals in the required skills.
New statistics have shown that this might, in fact, be a prudent strategy, particularly for Indian firms operating in the US. A number of firms across the globe are continuing their policy of employing foreign nationals, although firms from India appear to be facing greater resistance in obtaining an H-1B visa.
Of the ten international firms to obtain the most H-1B visas over the last fiscal year, TCS represents the only firm of Indian origin. The firm, which currently holds the position of the largest IT services firm in India by market capitalisation, obtained a total of 20,755 H-1B certifications last year, placing it in seventh position on the global list.
TCS is particularly active in the US market, currently administering the insurance and annuities verticals of American insurance giant Transamerica in a contract worth $2 billion. The firm is regarded favourably in the US, not only because of its position among the 60 most valuable brands in the country, but also due to its concerted efforts towards supporting educational programmes in the country.
In light of this built-up credibility, the firm continues to employ professionals from India, as opposed to its rival Infosys, which trained and hired as many as 2,500 American citizens in 2017 itself, primarily due to the uncertainty surrounding H-1B policies. Infosys plans to increase this number to 10,000 over the next two years.
Globally, UK-based Big Four accounting and advisory firm EY topped the list for most H-1B visas, having obtained well over 150,000 over the last fiscal year alone, accounting for over 12% of the total H-1Bs issued. EY was followed by Big Four rival Deloitte, which obtained nearly 70,000.
