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Social security on India's Obama agenda

With the outsourcing backlash in the US getting shriller, New Delhi wants to push for a pact that will help Indian professionals paying one billion US dollars annually to the social security schemes there, to repatriate their money. Jayanth Jacob reports.

mumbai Updated: Sep 13, 2010 01:58 IST
Jayanth Jacob

With the outsourcing backlash in the US getting shriller, New Delhi wants to push for a pact that will help Indian professionals paying one billion US dollars annually to the social security schemes there, to repatriate their money.

The issue is likely to come up during President Barack Obama's November visit.

The matter was discussed at a recent high-level meeting chaired by principal secretary to the Prime Minister,

T.K.A. Nair, highly placed sources said.

There are estimated 300,000 Indians working in USA under non-immigrant visa category like H1B, L1A, L1B1. Each employee now pays 15 per cent of the salary to the social security scheme.

Since their visa term is a maximum of 6 to 7 years, they can't repatriate the money because under US law, ten years' of payment is necessary in order to get social security benefits.