Well the symptoms though are pointing towards it. As per the latest news, the chief of Infosys, India's second largest IT services firm said,"What we see from customers is that they are committing short term; they also reserve the right to cancel, so clearly, everybody is playing the short-term game at this point in time." Further we have the H1B visa(work visa for US) fees nearly doubled from US $2000 to US $4500. The Indain IT Industry derives nearly 45-50% of its revenues from its onsite work resources. As per NASSCOM, this will increase the annual visa cost for the Indian IT industry by US$ 200-250 m annually. This will reduce the cost arbitrage that India offers to its clients in US. However, Indian IT firms cannot afford to miss the US markets!!!
The percentage of onsites that we had is also constantly reducing as per latest reports of the last decade. If this trend continues then surely the Indian IT Industry could be in deep trouble. But who will be the most affected will be the common man, us middle class whose primary source of income is the JOB in IT. Are we prepared well???
This blog is an initiative to help the middle class community to ignite the Financial genius within them and motivate them to achieve Financial Freedom
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