L1 visa: TCS says no hindrance to trade yet
Amid the controversy over the introduction of a bill proposing to ban L1 visas under which intra-company transfers take place to US, Tata Consultancy Services on Wednesday said though the company is concerned about the situation, there is no hindrance to business.
"We are concerned, we are watching the situation, we are in dialougue. Two weeks ago, I and Kiran Karnik (Nasscom president) were in Washington and lot of proactive work that needs to take place, has been done", TCS executive vice president, Phiroz Vandrevala said in New Delhi on the sidelines of a seminar on outsourcing.
For a long period it was H1 visa that was in focus, L1 was never discussed or reviewed, now that US is looking at a tighter policy, the L1 is on the radar screen, he said adding so long as there are no trade barriers because of visa, it is okay.
On May 19, a bill was introduced in the US House of Representatives to stop companies from outsourcing their L1 visa holders to their client's site.
The L1 visa allows companies that have got subsidiaries abroad to transfer employees from foreign countries to the US as intra-company transferees.
TCS has 5,000 people in US, 40 offices and three development centres.