Statement by Som Mittal, President of NASSCOM, the High Tech Association of India, About New Border Security Law Signed by President Obama

WASHINGTON, Aug. 13 /PRNewswire-USNewswire/ -- We are grateful that Sen. Schumer has clarified that the new law is not targeted at Indian companies. Nonetheless, the statements he made on the Senate floor demonstrate that he has chosen to ignore facts and the role that the Indian information technology industry has played in enhancing U.S. business competitiveness.

The Indian IT industry, while recognized as a global success story, represents only a fraction of the U.S. technology business. It is shocking that the Senator chose to blame this sector for so many problems -- from unemployment to low wages.

Indian companies are legitimate users of the H-1B visa program. What's more, Indian industry has added significantly to the U.S. economy and its workers and companies have been good citizens, contributing to Social Security, local taxes, and contributing to local communities. India has also opened up its markets.

The U.S. government has a legitimate right and responsibility to protect its borders, but the new fees are self-defeating. They will discourage some firms from hiring the talent that they need to innovate, expand and ultimately create jobs.

It is also unfortunate -- but likely -- that the new law will impact the level of cooperation between India and the U.S., both with respect to our government-to-government and business-to-business relationships.

We will work with the Obama administration and Congress to find ways to mitigate the impact on our industry.

Statement from Som Mittal, President of NASSCOM, the High Tech Association of India

SOURCE NASSCOM, Delhi