Raising concerns over some of the "elements" of a US legislation on immigration reforms, Commerce and Industry Minister Anand Sharma today said the bill will undermine the competitiveness of Indian IT businesses in America.
Indian companies support over 280,000 jobs in the US and have contributed over USD 15 billion to the US Treasury in the last five years, Commerce and Industry Minister Anand Sharma said at a meeting here with Steve Van Andel -- Chairman of the Board of Directors, US Chamber of Commerce.
Andel conveyed to the minister that the US Chamber is on the "same page" on the issue and there is need to be more vocal about the ill effects of the proposed legislation.
"Anand Sharma expressed his concern over the discriminatory measures related to skilled non-immigrant visas in the Comprehensive Immigration Reform Bill passed by the US Senate ...elements of the Bill will undermine the competitiveness of Indian IT businesses in the US," said an official statement.
Quoting Anand Sharma, it said that Indian IT companies have contributed enormously to the US economy through job creation and enhancing the competitiveness of their clients, who included some of the US's largest businesses.
"Investments of more than USD 5 billion have been made in the last five years alone, by way of acquisitions," it said.
Anand Sharma sought American investment in the Delhi-Mumbai Industrial Corridor (DMIC) project and National Manufacturing Investment Zones.
Andel evinced the US' interest in investment in these regions.