Key Points

"In India, a lot of things are happening. So we will have more startups, more companies in cities like Bangalore, Hyderabad and Gurgaon, all will benefit because of these startups and other things... I think it's a gain for us. And India is planning to have Viksit Bharat. So it will add to the Viksit Bharat, I think, if they stay back. Also, some other countries can diversify to go to the other countries," S Mahendra Dev told ANI.

He was answering a query on US President Trump signing an Executive Order to raise the fee that companies pay to sponsor H-1B applicants to USD 100,000.

He said the US move is likely to have humanitarian consequences.

"For those concerned, it may have an impact on them. But overall, I feel that India may benefit if they stay back in India and get good jobs and other things. India is also progressing very well. And then, of course, they will also diversify to other countries," he said.

US President Donald Trump on Friday (local time) made a major overhaul to the H-1B visa programme, imposing a steep USD 100,000 annual fee on H-1B visa applications, raising fresh questions about whether this is a much-needed correction or a potentially crippling blow to America's tech talent pipeline.

Asked about the United States imposing 50 per cent tariffs on Indian goods, he indicated that the government is following a multi-pronged approach.

"One is helping the industry, like textiles and others, you know, with loans and lower interest rates and all. The second one is that we are diversifying into other countries. Third is FTA; we are speeding up. Fourth, we are continuing the negotiations. Hopefully, within the next one or two months, we'll have something," he said.

Mahendra Dev talked of India's Free Trade Agreement negotiations with several countries.

"The Commerce Ministry is doing the negotiation... In the UK, I think we have a very good FTA because both countries have reduced the tariffs. And Europe also, negotiations are going on. And with some other countries, the UAE and other countries, we are also going to do. So with this, we are also speeding up things to have more FTAs," he said.

Reacting to the US move concerning H1B visa, CP Gurnani, Co-Founder and Vice Chairman, AIonOS, said that over the past several years, Indian IT firms have significantly reduced their reliance on the H-1B visa, with filings dropping by over 50 per cent.

"This shift is a result of our ongoing strategy to hire more locally, invest in automation, and enhance our global delivery models. While visa fees may change, the impact on our business will be minimal, as we've already adapted to this evolving landscape," he said.

- ANI