India signals tougher stance on US H-1B visa curbs

Arun Jaitley raises issue with US commerce secretary

by Janhavi Behere

Commerce minister Nirmala Sitharaman signaled that India will take a tough stance on the H-1B visa curbs undertaken by the US administration[see]. Several US companies situated in India send their profits back to the US economy. This would be considered while taking a decision, she said. While the minister did not reveal any specifics, media reports suggest that India can toughen scrutiny of royalty payments by Indian subsidiaries to their parent firms in the US.

Further, finance minister Arun Jaitley raised the H-1B visa issue with the US commerce secretary Wilbur Ross. He highlighted the contribution of Indian IT professionals in the economic development of America. Wilbur Ross has stated that the Trump administration’s objective is to have a merit-based immigration policy that gives preference to highly skilled professionals.

References
1. http://www.livemint.com/Politics/4ItpsVUuXrtimX2wLZXlnL/H1B-visa-curbs-India-threatens-US-with-trade-retaliation.html
2. https://www.pressreader.com/india/economic-times/20170421/282071981781198
3. http://www.livemint.com/Politics/anGcvC39sVDEVQbF58SmrI/Arun-Jaitley-takes-up-H1B-visa-issue-with-US-commerce-secre.html
CMIE STATISTICS
Unemployment Rate
Per cent
3.9 -0.1
Consumer Sentiments Index
Base September-December 2015
99.8 +0.3
Consumer Expectations Index
Base September-December 2015
100.0 +0.3
Current Economic Conditions Index
Base September-December 2015
99.5 +0.5
Quarterly CapeEx Aggregates
(Rs.trillion) Jun 16 Sep 16 Dec 16 Mar 17
New projects 1.45 2.40 1.40 2.87
Completed projects 0.91 2.20 0.89 1.68
Stalled projects 1.40 0.64 1.01 0.32
Revived projects 0.40 0.51 0.17 0.62
Implementation stalled projects 0.50 0.37 0.80 0.27
Updated on: 28 May 2017 8:20PM
Quarterly Financials of Listed Companies
(% change) Jun 16 Sep 16 Dec 16 Mar 17
All listed Companies
 Income -0.9 2.1 10.1 11.1
 Expenses -0.3 1.9 10.4 12.3
 Net profit -4.0 14.6 39.8 26.3
 PAT margin (%) 6.9 6.9 5.9 6.5
 Count of Cos. 4,501 4,479 4,453 1,873
Non-financial Companies
 Income -2.5 0.6 10.9 12.8
 Expenses -2.9 -0.2 12.6 17.8
 Net profit 9.7 26.7 24.5 -5.3
 PAT margin (%) 7.4 6.9 6.0 7.9
 Net fixed assets -9.2 7.8
 Current assets 8.1 5.1
 Current liabilities 11.6 7.8
 Borrowings 3.1 6.6
 Reserves & surplus 8.4 9.8
 Count of Cos. 3,504 3,485 3,470 1,515
Numbers are net of P&E
Updated on: 28 May 2017 8:29PM
Annual Financials of All Companies
(% change) FY13 FY14 FY15 FY16
All Companies
 Income 12.4 9.9 4.9 1.0
 Expenses 12.6 9.7 5.0 1.1
 Net profit 1.2 -3.1 2.1 -12.4
 PAT margin (%) 3.6 3.2 3.2 3.1
 Assets 14.3 12.2 9.3 8.1
 Net worth 9.5 9.6 8.6 7.4
 RONW (%) 6.8 6.1 6.1 5.5
 Count of Cos. 24,399 21,813 20,887 16,947
Non-financial Companies
 Income 11.7 9.6 4.0 0.0
 Expenses 12.0 9.2 4.1 -0.8
 Net profit -8.4 -3.8 -4.0 12.5
 PAT margin (%) 2.4 2.2 2.2 2.8
 Net fixed assets 12.9 11.6 13.0 12.4
 Net worth 7.7 8.6 7.2 6.7
 RONW (%) 5.5 5.0 4.9 5.8
 Debt / Equity (times) 1.1 1.1 1.1 1.0
 Interest cover (times) 2.1 1.9 1.9 2.1
 Net working capital cycle (days) 72 69 67 66
 Count of Cos. 18,910 17,264 16,595 13,776
Numbers are net of P&E
Updated on: 21 May 2017 10:44AM