Commerce and Industry Minister Piyush Goyal has described the United States' restrictions on H-1B visas as a potential boon for the Indian economy, arguing that tighter access to the American job market will help India retain skilled professionals and strengthen its domestic ecosystem.
Talent at home
In an interview with The Economic Times, Goyal said India had lost some of its best talent to the US over the past 25-30 years, and that keeping more of it at home would be "absolutely good for the Indian economy".
"I personally believe that not getting more H-1B visas is absolutely good for the Indian economy," Goyal told ET. He argued that every H-1B visa not granted could represent an opportunity for India — to retain talent, boost domestic consumption and create more value within the economy.
Startups, deep tech and GCCs
The minister said tighter visa access could accelerate India's startup ecosystem, particularly in deep technology, where the number of significant startups is still limited. He also pointed to the growth of global capability centres, with American companies expanding in Bengaluru, Hyderabad, Pune, Gurugram, Noida and Mumbai.
Asked whether US companies were considering scaling up their Indian operations, he responded: "Not some, all of them, because this is where the talent is."
Goyal argued that professionals working in India would pay taxes, spend locally and support domestic businesses — and that companies could access highly skilled talent at a fraction of the cost of hiring comparable professionals overseas.
Trade and mobility kept separate
Goyal also sought to distinguish immigration policy from trade negotiations with the US, saying he had not raised H-1B visas or green cards in his discussions with the American government. "What relates to trade is mobility," he said, drawing a line between movement of people for trade-related purposes and broader immigration arrangements.
On the bilateral trade deal, he said negotiations were continuing on a "steady keel" despite changed circumstances since the two countries announced an understanding in February.
Sources:
'Every H-1B Visa Not Granted Is A Big Win For India', Says Piyush Goyal - News18
Talent at home
In an interview with The Economic Times, Goyal said India had lost some of its best talent to the US over the past 25-30 years, and that keeping more of it at home would be "absolutely good for the Indian economy".
"I personally believe that not getting more H-1B visas is absolutely good for the Indian economy," Goyal told ET. He argued that every H-1B visa not granted could represent an opportunity for India — to retain talent, boost domestic consumption and create more value within the economy.
Startups, deep tech and GCCs
The minister said tighter visa access could accelerate India's startup ecosystem, particularly in deep technology, where the number of significant startups is still limited. He also pointed to the growth of global capability centres, with American companies expanding in Bengaluru, Hyderabad, Pune, Gurugram, Noida and Mumbai.
Asked whether US companies were considering scaling up their Indian operations, he responded: "Not some, all of them, because this is where the talent is."
Goyal argued that professionals working in India would pay taxes, spend locally and support domestic businesses — and that companies could access highly skilled talent at a fraction of the cost of hiring comparable professionals overseas.
Trade and mobility kept separate
Goyal also sought to distinguish immigration policy from trade negotiations with the US, saying he had not raised H-1B visas or green cards in his discussions with the American government. "What relates to trade is mobility," he said, drawing a line between movement of people for trade-related purposes and broader immigration arrangements.
On the bilateral trade deal, he said negotiations were continuing on a "steady keel" despite changed circumstances since the two countries announced an understanding in February.
Sources:
'Every H-1B Visa Not Granted Is A Big Win For India', Says Piyush Goyal - News18
