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IT major Infosys expressed concern about the growing rejection of work visa applications and said that this could lead to delays and increased project costs for its clients.
The Bengaluru-based company "Recently, the number of refusals of visa applications has increased, which has affected and may continue to affect our ability to obtain visas in a timely manner. As a result, we may encounter delays or additional costs in the management of such projects, "Infosys said in a recent regulatory filing.
Infosys also noted that the company may need to apply for visa in advance or could incur additional costs.
The company also warned that its international expansion strategy and operations could be adversely affected. "Earlier, Infosys had stated that stricter standards for work visas in various markets such as the United States and Australia would not "limit" the growth of its business, since the standards of work visa The firm focuses on the hiring of local workers and training
"… what we are building with this localization approach is really about ensuring that our model of "Business is evolving properly without sacrificing the best elements of the business model for the future. So, I do not think we see that this will limit the growth of our business, "said Salil Parekh, CEO of Infosys.
In recent months, temporary visas in the US and in In Australia, many Indian IT companies have changed their business models by reducing their reliance on visas and hiring more people overseas.
Infosys has announced that it is putting in place four centers of technology and innovation locals in the United States over a two-year period, of which about 4,000 have already been hired.
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