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
5.8 -0.1
Consumer Sentiments Index
Base September-December 2015
96.0 -0.2
Consumer Expectations Index
Base September-December 2015
96.2 -0.3
Current Economic Conditions Index
Base September-December 2015
95.5 0.0
Quarterly CapeEx Aggregates
(Rs.trillion) Jun 17 Sep 17 Dec 17 Mar 18
New projects 2.50 1.22 1.34 2.91
Completed projects 0.87 1.24 1.11 1.35
Stalled projects 2.68 0.69 0.88 3.41
Revived projects 0.23 0.34 0.22 0.24
Implementation stalled projects 0.76 0.78 0.71 1.05
Updated on: 21 Jun 2018 8:20PM
Quarterly Financials of Listed Companies
(% change) Jun 17 Sep 17 Dec 17 Mar 18
All listed Companies
 Income 9.6 7.9 11.9 10.7
 Expenses 9.9 9.0 13.0 17.3
 Net profit -19.8 -18.0 -14.3 -78.4
 PAT margin (%) 5.3 5.5 4.8 1.4
 Count of Cos. 4,512 4,498 4,488 4,231
Non-financial Companies
 Income 10.2 8.2 13.3 12.4
 Expenses 10.5 8.1 12.3 13.0
 Net profit -25.1 -6.0 13.1 1.4
 PAT margin (%) 5.2 6.2 6.4 6.8
 Net fixed assets 9.2 11.9
 Current assets 78.6 8.4
 Current liabilities 11.0 10.7
 Borrowings 10.4 1.4
 Reserves & surplus 5.2 8.1
 Count of Cos. 3,480 3,467 3,471 3,281
Numbers are net of P&E
Updated on: 21 Jun 2018 8:21PM
Annual Financials of All Companies
(% change) FY15 FY16 FY17 FY18
All Companies
 Income 5.6 1.8 5.8 15.1
 Expenses 5.7 1.9 5.8 21.9
 Net profit 0.0 -9.8 26.7 -75.8
 PAT margin (%) 3.0 2.8 3.5 1.5
 Assets 9.5 10.1 7.2 16.3
 Net worth 8.5 11.3 6.9 11.2
 RONW (%) 5.8 4.9 5.9 2.0
 Count of Cos. 25,972 24,188 21,604 134
Non-financial Companies
 Income 4.8 0.9 5.6 12.1
 Expenses 5.0 0.3 5.9 11.6
 Net profit -8.2 19.5 21.8 12.2
 PAT margin (%) 2.0 2.4 3.0 11.7
 Net fixed assets 13.3 17.3 6.3 23.3
 Net worth 7.0 12.0 5.6 6.5
 RONW (%) 4.6 5.1 6.0 15.0
 Debt / Equity (times) 1.1 1.1 1.0 0.3
 Interest cover (times) 1.9 1.9 2.1 11.5
 Net working capital cycle (days) 66 65 62 -24
 Count of Cos. 21,193 20,267 18,054 92
Numbers are net of P&E
Updated on: 20 Jun 2018 12:40PM