BENGALURU: Union Minister Ravi Shankar Prasad said it was time for Indian IT companies to look inward and explore the vast market of Digital India.
Interacting with representatives of the Indian IT Industry, Prasad said, “Wherever Indian IT companies go, whether in India or America, they don't steal jobs, they make jobs”.
“What I would request as Minister is it’s time for (Indian IT companies) to look inwards… India is creating a huge market with Digital India, Make in India, Startup India, Stand-up India, Smart cities and the like”.
The $150 billion Indian IT Industry is currently going through a churn with the US government’s move to impose stricter rules for the H1B visa, a gateway for IT professionals for short-term work in the US.
The immigration policy has left high-skilled Indian tech workers in US in limbo, while IT companies are grappling with higher visa costs and stricter immigration rules.
Addressing the concerns over H1B, Prasad said, “We neither create boundaries nor do we appreciate boundaries …. The IT ecosystem is based upon reciprocity. Indian human resource contributes to the US economy and many US companies also benefit from India because of Indian minds”
The Indian IT industry has contributed close to $22 billion in tax revenue for the US in the last 5 years creating over 400,00 jobs in the country giving a competitive edge to nearly two-thirds of the fortune 500 companies, Prasad added.
Taking note of the developments, the Indian government has reached out to the US government to address concerns pertaining to the H1B. Finance Minister Arun Jaitley is on a five-day trip to the US and has met US commerce secretary, Wilbur Ros and conveyed his concerns.
“What I'm confident about is, the talent of Indian IT minds will always keep the flag flying.” Prasad said. The Minister of Electronics & IT took suggestions from the Industry representatives to address bottlenecks in the Industry.