Washington — In a major move that could benefit Indian technology firms and their employees, President Barack Obama March 24 announce that he was easing the process to obtain L-1B work visas for corporate executives to attract foreign investment and bring workers with specialized knowledge to the U.S.
“I’m pleased to announce a new action I’m…taking to make it easier for global companies who are present here to launch and invest in the U.S.,” Obama said at the SelectUSA Summit.
“And this could benefit hundreds of thousands of non-immigrant workers and their employers, that in turn, will benefit our entire economy and spur additional investment,” he said.
Many Indian companies participated in the SelectUSA Summit, which was aimed at increasing U.S. exports and attracting more foreign investment to the U.S.
A decline in the granting of L-1 visas has been a major barrier for Indian firms wanting to invest in the U.S.
“One of the things that would make America even more attractive to businesses and that would grow our economy and shrink our deficits, and keep this country safer, stronger, and smarter, would be a comprehensive immigration reform package,” Obama said. “That’s why I’m going to continue to push and prod and poke and cajole friends in the Republican Party to get on board and help us get this done. We need to get immigration reform done here in the United States of America.”
“We’ve got the most skilled and productive workers, the best universities, the most innovative entrepreneurs in the world,” Obama added.
An L-1 visa is used by workers with specialized knowledge to enter the U.S. for work purposes. A non-immigrant visa, it is valid for a short period of time.