Axis Capital says H-1B risk is limited, prefers Infosys, Wipro, Mphasis, Hexaware

Manik Taneja, Executive Director for IT Services & Internet at Axis Capital, said Indian IT firms have steadily reduced their reliance on the H-1B visa programme over the past few years.

He noted that between the fiscal year 2015-16 (FY16) and 2016-17 (FY17), the top five IT companies together received 40,000–45,000 visas annually. In the most recent financial year, that number has dropped to below 12,000. “From almost 11–12% of total approvals, the share of the top five companies is now less than 5%,” he said.

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