Protectionist measures in the US such as stricter H-1B visa norms for firms seeking bailout funds and removal of tax breaks for American companies outsourcing jobs is a cause of concern for the Indian information technology sector but the industry is hopeful that free trade will prevail, Nandan Nilekani. co-chairman and co-founder of Infosys Technologies said on Friday.
“There is a murmur on the issue but I am hopeful that people will realise that we need free trade,” Nilekani told Hindustan Times on the sidelines of an event organised by the CII.
Earlier, the National Association of Software and Service Companies said that while removal of tax breaks will not hit the industry, restriction on H-1B hiring was an attempt to unfairly target Indian companies.
Nilekani did not comment on the company’s hiring plans but maintained that Infosys will honour the commitment it has made. Infosys Technologies had made a total of 27,000 offers in financial year 2008-2009 of which about 18,000 are campus offers.