CP Gurnani led Tech Mahindra for over a decade (Image: Official X account)
Former Tech Mahindra Chief Executive C.P. Gurnani has said the US government's move to increase fees for H-1B visa to $100,000 won't hurt Indian IT companies and may even benefit the industry in the long run.
Speaking to NDTV Profit, Gurnani expects the crackdown on H-1B visas will eventually lead to a faster adoption artificial intelligence in the industry while adding that Indian IT companies are not body shopping anymore.
"The industry is in a mature state. I do not think this act will have any impact. In fact, it will help. All of us in the IT industry will realise that we need to shift towards AI a little faster," he said.
"We need to shift towards products and platforms, just like our Prime Minister says we need to be more self-reliant. We need to be stronger in our delivery," he added.
CP Gurnani, who led Tech Mahindra for over a decade, believes the move will hurt the US more than India.
"I don't see this as permanent. This hurts US more than it hurts Indian companies, which have reduced their H-1B dependence by 60% in the last five years. In contrast, the dependence on H-1Bs has been going up for American counterparts," he said.