India’s tech industry hails Joe Biden’s stand on immigration, H-1B rules


The Indian tech industry has welcomed the US President Joseph Biden’s stand on immigration and H-1B visa.

“President Biden has pledged a new approach on Trade and Immigration, as well as a renewed and revitalised interest in science and technology. We appreciate President Biden’s commitment to review and make necessary changes to harmful regulatory policies put in place by the previous administration,” said National Association of Software and Services Companies (Nasscom) in a statement on Thursday.

The previous Donlad Trump administration had placed several curbs and made unfavourable changes to the H-1B visa rules, that is most commonly used by Indian software engineers to travel to the US for work.

Dexpite many representations from various quarters, the Trump administration had brought in harsh rules such as requiring selection of H-1B workers based upon highest salary, paying foreign workers significantly higher wages, redefined the employer-employee relationships and so on.

In a memo on Wednesday, the Biden administration either withdrew or froze some of these provisions.

ALSO READ: Biden’s immigration bill proposes to scrap country cap, to help IT in India

“A modern US immigration system drives innovation,” said Jason Oxman, Information Technology Industry (ITI) President and CEO.

Reliance-Future deal gets Sebi nod, BSE ‘no-adverse-observation’ status


Market regulator gave a go-ahead on Wednesday to Future Group’s scheme of arrangement and sale of assets to Reliance, based on which the Bombay Stock Exchange also granted its “no adverse observation” report to the Rs 24,713-crore deal.

The Securities and Exchange Board of India (SEBI) allowed the deal with some riders, five months after it was announced last August.


The has said the litigation pending before the Delhi High Court and arbitration proceedings by the global e-commerce major contesting the deal should be specifically mentioned by while seeking shareholders or the National Company Law Tribunal approval, the BSE stated in its observation letter.

It has also held that SEBI’s go-ahead on the draft scheme of arrangement would be subject to the outcome of these proceedings.

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