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
3.6 +0.1
Consumer Sentiments Index
Base September-December 2015
95.8 0.0
Consumer Expectations Index
Base September-December 2015
96.8 0.0
Current Economic Conditions Index
Base September-December 2015
94.1 0.0
Quarterly CapeEx Aggregates
(Rs.trillion) Sep 16 Dec 16 Mar 17 Jun 17
New projects 2.37 1.46 2.93 1.64
Completed projects 2.23 0.94 1.83 1.10
Stalled projects 0.65 1.01 0.35 2.45
Revived projects 0.91 0.17 0.62 0.29
Implementation stalled projects 0.37 0.81 0.33 0.64
Updated on: 18 Aug 2017 8:20PM
Quarterly Financials of Listed Companies
(% change) Sep 16 Dec 16 Mar 17 Jun 17
All listed Companies
 Income 2.1 6.2 10.3 10.1
 Expenses 1.9 6.4 11.9 10.1
 Net profit 14.6 40.3 17.9 -16.3
 PAT margin (%) 6.9 6.1 6.1 6.0
 Count of Cos. 4,495 4,496 4,399 2,750
Non-financial Companies
 Income 0.6 6.0 11.8 10.8
 Expenses -0.2 7.3 15.5 10.7
 Net profit 26.6 24.6 -1.1 -20.9
 PAT margin (%) 6.9 6.2 6.3 6.0
 Net fixed assets -9.2 7.6
 Current assets 8.1 2.2
 Current liabilities 11.6 8.6
 Borrowings 3.1 4.9
 Reserves & surplus 8.4 6.5
 Count of Cos. 3,481 3,486 3,420 2,015
Numbers are net of P&E
Updated on: 18 Aug 2017 8:30PM
Annual Financials of All Companies
(% change) FY13 FY14 FY15 FY16
All Companies
 Income 12.6 10.0 4.9 1.0
 Expenses 12.8 9.8 5.0 1.2
 Net profit 0.9 -2.3 1.3 -15.2
 PAT margin (%) 3.5 3.2 3.2 3.0
 Assets 14.3 12.3 9.3 8.8
 Net worth 9.6 9.6 8.8 7.6
 RONW (%) 6.8 6.2 6.1 5.3
 Count of Cos. 25,384 22,944 22,236 18,452
Non-financial Companies
 Income 11.9 9.7 4.1 0.0
 Expenses 12.2 9.3 4.2 -0.6
 Net profit -8.6 -2.6 -6.1 6.3
 PAT margin (%) 2.4 2.2 2.2 2.7
 Net fixed assets 12.9 11.6 13.0 13.9
 Net worth 7.8 8.6 7.4 6.9
 RONW (%) 5.5 5.1 4.9 5.6
 Debt / Equity (times) 1.1 1.1 1.1 1.0
 Interest cover (times) 2.1 2.0 1.9 2.0
 Net working capital cycle (days) 72 69 67 67
 Count of Cos. 19,804 18,286 17,814 15,125
Numbers are net of P&E
Updated on: 04 Aug 2017 3:37PM

Time-series available since 1992-93