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The US is looking to cap the number of H-1B visas granted to India due to recently enacted "data localization" laws.
India, which has upset firms such as Mastercard and irked the U.S. government with stringent new rules on data storage, is the largest recipient of these temporary visas, most of them to workers at big Indian technology firms. India receives about 70% of all US H-1B visas, but would be limited to between 10% and 15% of the annual quota.
[...]Most affected by any such caps would be India’s more than $150 billion IT sector, including Tata Consultancy Services (TCS) and Infosys Ltd, which uses H-1B visas to fly engineers and developers to service clients in the United States, its biggest market. Major Silicon Valley tech companies also hire workers using the visas.
Shares in Indian IT firms fell in early trade on Thursday after the Reuters story. Wipro Ltd fell around 4%, while Infosys and TCS fell more than 2% each. The broader Nifty IT index’s 1.8% fall was its biggest intraday percentage decline in over five weeks.
Also at: Fortune, The Economic Times (India), and MSN.
(Score: 0) by Anonymous Coward on Friday June 21 2019, @03:03PM (10 children)
about why all the data about all the people of the world should be stored in the lower half of north America.
are they the only one's who can keep things private?
i really have no idea what possible good this would do for the people of the world. and i'm not trying to be sarcastic.
(Score: 0) by Anonymous Coward on Friday June 21 2019, @03:15PM
Because India is located in the lower half of north America.
(Score: 4, Interesting) by Immerman on Friday June 21 2019, @03:33PM (3 children)
More likely because the US intelligence agencies have far easier access to data stored in the US.
I see this as the US government saying "Either give us all the supposedly private data your people share with US-based companies, or we'll cut off the flow of money your H-1B's are sending home."
(Score: -1, Troll) by Ethanol-fueled on Saturday June 22 2019, @12:50AM (2 children)
The way I see it, it's win-win for Americans. Indian men are obnoxiously arrogant, because the ones that shit in toilets, whether or not they eventually make it to the USA even as H1-B hires are the family golden-boys. Give them a little money and popularity on the world stage and it goes straight to their head, and they become the Indian equivalent of the upper middle-class white kid driving around the SUV his mommy and daddy bought, thinking he's a badass while carrying a pocket knife and shouting Eminem lyrics everywhere he walks.
You can see it happening on the geopolitical stage as well. Unfortunately, thanks to the weakening of America's reputation caused by its Jewish infiltration, even literal shit nations such as India are taking advantage of us.
(Score: 0) by Anonymous Coward on Saturday June 22 2019, @06:39PM (1 child)
Your weakness is not white people's weakness. They seem to be doing better than everyone from the looks of it, and without deserving it.
(Score: 0, Troll) by Ethanol-fueled on Saturday June 22 2019, @10:38PM
Shut da fukk up whitey.
(Score: 2) by bob_super on Friday June 21 2019, @04:15PM (1 child)
Easy : more money for Americans is best for the world.
Duh!
(Score: 1, Touché) by Anonymous Coward on Friday June 21 2019, @08:32PM
Or, at least the part of the world covered by the so-called "World Series".
(Score: 0) by Anonymous Coward on Friday June 21 2019, @06:15PM
I really have no idea why you think this would do any good for the "people of the world," when the concern of President Trump would over the supremacy and profits of the United States. This President has never even given the first clue he gives a shit about any people who do not vote for him, and he really doesn't give a shit about them if it means the right people get paid instead.
(Score: 2) by nobu_the_bard on Friday June 21 2019, @09:28PM
I don't think its entirely unreasonable for countries to want localized data.
A company like Visa probably has a cost reduction incentive to keep their data in as few places as possible. Fewer, larger deployments that are more geographically close to each other is probably cheaper and easier to manage than more smaller deployments spread out over a larger area. Local companies in the more remote regions may be able to compete more effectively as a result too, by keeping their own setups lean (they have less overhead and less compliance people sniffing around).
Companies like Visa have a lot money, which is a lot of political power, so they can pressure the administration to agree with their aims. Visa et all need to nip this localization thing in the bud to keep data localization (ie. higher operating costs) from becoming the norm.
Government wise, the government of course wants as much international data stored locally as possible, to make CIA/NSA/FBI investigations easier. It is easier to halt flow of foreign money when you want to mess with someone if the path the money takes is the next door over versus the far side of the planet.
(Score: 0) by Anonymous Coward on Saturday June 22 2019, @02:02AM
A not so long time ago there was a company that used its technological superiority to first make agreements with local governments to open their market and then after pushed for more and more favorable terms so that local manufacturing jobs died and the market was filled with the company made products and everyone was working to create raw material for the company.
A not so long time ago...