60 CEOs Write to Donald Trump to Ease H-1B Curbs
Around 60 business school deans and CEOs have written an open letter to Donald Trump and other leaders, mentioning the country doesn't have the high skill talent which it needs and there is a drop-in student admission over the past three years, which is acting as an obstacle to get qualified immigrants into the US.
It was said in the letter that “The fact that our economy has created an estimated three million open STEM jobs is a positive. It speaks to the vibrancy and opportunities available in a healthy, growing economy. Yet the fact that those jobs are unfilled and that the US is not producing enough people with the skills to fill them.”
The letter was circulated in the Wall Street Journal on Tuesday. The letter advised removing country caps and reforming the H-1B visa program, and creating a ‘Heartland’ visa that would encourage immigration to regions within the US.
Deans from the business schools of Columbia, Duke, Yale and Stanford, as well as CEOs of companies such as Ingersoll Rand and Barings, are signatories to the letter.
Shivendra Singh, the vice-president, global trade development at industry body Nasscom, said, “With almost zero unemployment, short-term, high-skill visas play a critical role in bridging that gap. Even as companies are investing in reskilling initiatives, those will take time and, meanwhile, you need highly skilled people in order to maintain your competitive edge globally.”
In the year 2014, the percentage of Indians sending their scores from the GMAT exam to US business schools fell to 45% in 2018 from 57% and in 2019, the US saw a 13.7% decline in international business school applications.
As per the 2018 reports, the growth pace in the number of Indian students studying in the US has slowed, at 5.4% in 2018 over 12.3% the previous year.
Chair of GMAC Board and dean of Duke University’s Fuqua School of Business said, " We feel it is critical we share this information now with policymakers as talent will be the most important factor in determining who wins and losses economically in the future.”