Indian IT industry to create new business models says Nasscom
14 Aug 2010
Following US president Barack Obama signing the Border Security Bill into a law, Nasscom, the apex body representing the Indian software industry, has proposed creation of alternative business models for the creation of new jobs in India rather than in the US.
Meanwhile, leading Indian IT firms have also said the are trying out fresh approaches to contain the impact of the fee increase.
The US president's legislation nearly doubles the H-1B and L-1 visa application fee from the current level of about $2,300 to about $4,300 per application.
Nasscom had protested against the 'discrimination' through the Indian government and various industry associations in the US, and has called for creating new business models if working in US would get difficult.
Nasscom president Som Mittal said yesterday that even though the move would hardly have any impact of Nasscom revenues, costs are bound to go up and to address this it was looking at new business models, but it would take time.
He added that the US would continue to be the largest market for the Indian IT industry and its share may go down but the quantum of business that it was getting would come down.
