Indian IT cos fully compliant with US visa norms: Nasscom

Indian IT industry body Nasscom has come out in defence of the sector. Speaking about the US probe on possible H1-B visa violations by  TCS  and Infosys  , Nasscom President, R Chandrashkhar told CNBC-TV18 that Indian companies have always complied with the US visa norms and it would be wrong to target them unnecessarily. According to him it is upto the US authorities to decide if they indeed need to tweak their present immigration laws. He said; “Indian companies do comply with visa regulations as they stand. And whether the current visa regulatory regime is best structured and suited to address the skill gap that’s undoubtedly has is something which the US authorities would need to look.” On one hand to argue the case for increasing by 3 times the number of visas that are given and on the other side to hold that some of the existing visas are not being used properly merely on the basis of some contentions by some people or by raising emotive issues as apposed to looking at the rationale of the situation, needs of the US economy and also the nature of services being provided is contradictory in that sense and we do hope that that issues well get resolved, he adds. ADVERTISING TCS stock price On June 17, 2015, Tata Consultancy Services closed at Rs 2514.95, up Rs 3.90, or 0.16 percent. The 52-week high of the share was Rs 2834.00 and the 52-week low was Rs 2211.00. The company’s trailing 12-month (TTM) EPS was at Rs 98.31 per share as per the quarter ended March 2015. The stock’s price-to-earnings (P/E) ratio was 25.58. The latest book value of the company is Rs 231.87 per share. At current value, the price-to-book value of the company is 10.85.

[“source – moneycontrol.com”]