New Delhi, August 14: Terming the US move to effect a huge hike in the fee for H-1B and L-1 visas sought after by Indian professionals as “protectionist”, the CII today said it will be detrimental to the economic interests of both countries.
US President Barack Obama is all set to sign into law a new Border Security Bill proposing a steep hike in visa fees, which would entail an additional expenditure of up to USD 250 million annually for Indian IT firms.
While urging the US Administration to reconsider the “largely protectionists provision”, the Confederation of Indian Industry (CII) said: “The legislation would burden Indian industry with additional costs, while being detrimental to the economic interests of both countries.
–PTI