South Asian Business news and information

Today seems to belong to India. I started my entries for this blog today with the news that Deutsche Bank is going to send 2000+ jobs to India and now I am ending the day with the news that a possibility has been created in for increasing the number of H1B Visas to 1,15,000 from the current quota of 65,000. When I read the news, I felt overjoyed to know, " The US Senate Judiciary Committee has approved an immigration bill by a 12-6 vote." So, the first obstacle is passed.

 India provides the largest number of professionals under H1B visa and Indians have been lobbying hard in about the increase. This bill will most probably will be raised in the Senate and there is a good chance that it will be passed in the Senate easily. However, members of the US House of Representatives may not feel too enthusiastic to pass this bill. So, the time to celebrate has not come yet. Nevertheless, the approval of The US Senate Judiciary Committee is a good sign. The leading tech companies like Microsoft have been calling to increase H1B Visa in the recent months.

 I am just concerned about one thing- the increase in H1B Visa may take away the best IT professionals from and can affect the outsourcing trend in adversely.

 What is your idea about it?