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Good News for Indian IT firms, US Court stays change in H-1B Visa Rule

US Court has ruled against two H-1B visa regulations proposed by the Donald Trump administration that restricted companies from hiring foreign employees. The rule which had been thrown out by the court includes restricting employees from other countries to work in their country, limiting the qualification criteria for H-1B visa workers and also reducing the validity period of H-1B visa. 

According to data, US issues 85,000 H-1B visas every year and Indian IT firms accounted for a significant share in those visas. Indian IT firms such as TCS, Infosys and Wipro said that they have reduced their dependence on H-1B visas to a large extent. Now, the IT companies are hiring young talent from India itself to boost their growth. 

During the times of Covid-19, the employment rate in the IT sector has remained the same as in the previous quarter. Biden’s presidency might also help in liberalising economic policies of the United States. Reports say that it will be a great benefit for developing countries like India, which are aiming to create significant economic value in the technological industry by 2025. IT firms are dynamically adjusting to the changes in US regulations, and this ruling may not create an immediate short-term impact.