Vastavam web: Infosys has been “intensely focused” on skilling and generating local employment in markets like the US, which has helped the IT services major become about 63% visa-independent in the US and over 50% in Europe and Australia-New Zealand, a top company executive said. Infosys, which counts the US as its biggest market, said it is still early to comment on the approach the new US administration could take towards work visas but it expects to continue benefiting from its ongoing localisation efforts.
“We continue to see challenges to mobility of talent. New proposed immigration regulations in USA could impact onsite wage costs, granting of visas, tenure of visas, and overall costs of compliance. He added that Infosys has eight innovation hubs across the US and the EU, nine global Digital Studios (including a 5G lab in Melbourne) and seven global cyber defense centres.
“We are close to 63% visa-independent in the US and over 50% in Europe and ANZ. We have been intensely focused on creating jobs in the US for the past three years,” he noted. In September, the Bengaluru-based firm had said it plans to hire 12,000 American workers over the next two years, taking its hiring commitment in the country to 25,000 over five years. Industry watchers say while IT companies have been ramping up their presence in the US and other markets, and hiring locals over the past few years to overcome visa-related challenges.
North America is the largest market for Infosys, accounting for 60.7% of its revenue, followed by Europe (24.3%), rest of the world (12%) and India (3%), as on September 30, 2020. Infosys had clocked 8.5% year-on-year rise in revenue to ₹24,570 crore in the September 2020 quarter. Rao said that through academia partnerships with institutes like Purdue, Trinity and RISD, the company has trained a large number of employees as well, and is leveraging the training and reskilling programmes that it has built with partners.
Asked if Infosys will rethink its strategy as the approach of the president-elect on the visa issue appears to be more liberal, Rao said it is still early days to comment. “It is early days to see what the approach of the new regime is towards visa and by and large many of the things we saw during the Trump regime had bipartisan support as well. “We may see some changes from the Trump regime, but it will not go back to the old pre-Trump days,” he added. “This is what we anticipated about three years back and we are seeing huge success and we have benefited from it and it is likely to continue,” Rao said.