'H1B Visa A Thing Of Past, No Longer...': Piyush Goyal Signals A Shift In US-India Relations

New Delhi: Following his recent New York visit, Union Minister of Commerce and Industry, Piyush Goyal, claimed that India and the US are involved in several economic and strategic partnerships, asserting that the H1B visa issue is now "a thing of the past". During a meeting at Vanijya Bhavan in the national capital, Goyal said that the H1B visa would no longer be a point of discussion in international dialogues, marking a shift in focus towards other areas of economic and strategic partnerships.The Union Minister's remarks came after the conclusion of his two-day visit to New York. During his visit, he said that discussions extended beyond traditional sectors, covering potential partnerships in critical areas such as clean energy development, technology transfer, digital telecommunications, and defence.There were also conversations around setting a stable exchange rate between the Indian rupee and the U.S. dollar, which could benefit bilateral trade, Goyal noted.

What Is H1B Visa? The H-1B visa, issued by the United States, is a non-immigrant visa that allows US companies to temporarily employ foreign workers in speciality occupations. Such occupation requires a specialised knowledge and a bachelor's degree or equivalent work experience in areas such as information technology (IT), finance, accounting, architecture, engineering, mathematics, science, medicine, etc.Recently, Indian professionals have been facing a lot of issues related to the H-1B visa, especially due to long waiting periods.The US lawmakers have been mulling to remove the 7% country cap for issuing Green Cards to foreign guest workers in specialised categories. Without this change, the waiting period for Indian immigrants could stretch beyond 20 years, and even exceed 70 years in certain cases, news agency PTI reported. India Eyes New Investment Avenues: Goyal Meets Top CEOs In USDuring his visit, Goyal met with CEOs of major companies to discuss reforms initiated by the Modi government aimed at boosting foreign investments in India, particularly in the pharmaceutical and diamond sectors.Surat, a prominent hub for the diamond industry, was highlighted as a key region for such investments. Goyal met around thirty business leaders who have already established ventures in India, signalling continued interest in expanding business operations in the country.Following his engagements in New York, the Minister travelled to Washington, where he had a luncheon meeting with 17 CEOs from the CEO forum, including Tata Sons' top executive. The discussions primarily centred on restructuring the forum, as the terms of several members are set to expire in December. Various Memorandums of Understanding (MoUs) were also signed during the visit, underscoring the commitment to deepening business ties.The visit also involved meetings with Small and Medium-sized Enterprises (SMEs), think tanks, educators, and the Center for Strategic and International Studies (CSIS). Goyal described this visit as different from previous trips, noting that there were no "negative agendas" on the table, reflecting a more positive outlook towards Indo-U.S. relations.Tourism and the development of the digital economy were also focal points during his meetings. Goyal's engagements at the CEO forum and with the CA forum aimed to showcase India's evolving business landscape and ongoing economic reforms, positioning the country as an attractive destination for global investment. (With Agency Inputs)