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Indian IT professionals will suffer if ban on H-1B and other work visas is extended till March 31

US President Donald Trump has extended restrictions on H-1B visas as well as other foreign work visas for three months in the interests of American workers. Trump said coronavirus treatments and vaccines were available but the effects of the epidemic on the labor market and community health were not completely eliminated.

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Indian IT professionals will suffer

The decision will affect a large number of Indian IT professionals and many American and Indian companies that were issued H-1B visas by the US government. Trump ordered the banning of work visas for various departments on April 22 and June 22 last year. The order expires on December 31, and just hours before that, Trump announced on Thursday that he would extend it to March 31.

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What is an H-1B visa?

In this context, he said that the reasons for imposing these restrictions have not changed. An H-1B visa is a nonimmigrant visa that allows U.S. agencies to hire foreign workers in specific occupations where theoretical or technical skills are required.

Technology companies rely on these visas to hire thousands of workers each year from countries like India and China. The decision will also affect Indian professionals awaiting H-1B visa renewal.

Impact on the valuation of Fortune 500 firms

It is noteworthy that Trump, through an executive order on June 22, stopped issuing new H-1B and L-1 visas by December 31, 2020. A report released by the Brookings Institution states that the order negatively affected the valuations of Fortune 500 companies, which lost more than বিল 100 billion.

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