H-1B, L-1 visas suspension 'mildly negative' for Indian IT firms: Icra 

  The temporary suspension of H1-B and L-1 visas by the US is a "mildly negative" development for the Indian IT companies as their dependence on permits has gone down lately, a domestic rating agency said.
Indian IT companies have reduced their dependence on the visas because of the tightening of visa issuances like allowing only the highly trained and a preference for US-educated individuals while granting H-1Bs.
The Donald Trump administration's order for temporary suspension was driven by the Covid-19 pandemic impact on the US economy, which has skyrocketed unemployment rates in an election year.
Indian IT industry body Nasscom, which estimates the overall industry size at $180 billion, has said that the proclamation as "misguided" and said this could be harmful to the US economy itself.
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