US visa curbs can be a ‘blessing in disguise’: Mukesh Ambani
India's richest man wants the IT industry to see Donald Trump's proposed restrictions as an opportunity to focus on the domestic market
While US President Donald Trump’s protectionist measures, especially his proposed curbs on H1B visas, have put the India’s IT sector on tenterhooks, the country’s richest man, Mukesh Ambani, has exhorted the industry to see it as a blessing and focus on their home market instead.
“Trump can actually be a blessing in disguise,” the Reliance Industries chairman told a meeting of software and services companies, according to news agency PTI. “The domestic IT industry can focus on solving problems right here, which is a huge market.”
While the world might want to erect walls, Ambani said he felt it was important that India was “always open, always connected.” India’s its talent pool and young population will have a competitive advantage.
“That is really a strength we should build on,” he told the annual meeting of the National Association of Software and Services Companies.
The association delayed releasing its customary annual growth projection to May as it awaits clarity on Trump’s plans to more than double the minimum salary for H1B visa holders and massively curb the issue of visas to technology workers. The US accounts for more than 65% of the revenue for India’s US$155 billion IT industry.