Final US Immigration law may not have harmful clauses: Wipro
IT major Wipro today said it expects that the final version of the proposed US Immigration Reform law will not have "harmful" provisions that have been passed by the Senate.
Bangalore: IT major Wipro today said it expects that the final version of the proposed US Immigration Reform law will not have "harmful" provisions that have been passed by the Senate.
"There are certain provisions in the Senate bill that in some form are harmful and not necessarily in the nature which encourages international trade and commerce," Wipro CFO Suresh Senapaty told reporters after announcing the first quarter results (April-June) here.
"Our expectation is that some of those provisions will not find a place in the final bill," he added.
The bill, which was recently passed by the US Senate, and is before the House of Representatives, proposes several changes, including higher visa costs and increase in wages for H-1B visa holders.
Most Indian IT service providers depend on visas to send their employees to client sites in the US, and their operations are expected to be impacted if the new law comes into force.
Another IT major Infosys recently said that it was in discussion with clients for a contingency plan to ensure business continuity in the event of the US immigration reforms bill becoming a law.
When asked if Wipro's customers are worried over the proposed law, the company's CEO T K Kurien said: "Customers are not particularly worried over the bill...Haven't given their statement that they are worried."
He said that it would be a challenge to pass the bill in both the houses.
"I don't see a big secular change happening in terms the way business is done or the competitive advantage going forward," he said.
Wipro today announced 11 per cent rise in June quarter profit to Rs 1,623.3 crore on back of increase in large contracts.