Premji: U.S. visa reform bill has some impractical clauses

BANGALORE, INDIA: On the United States immigration reform bill, which has kicked up a furore among Indian IT outsources, Wipro Limited chairman, Azim Premji, expressed his concerns on Friday.

"The immigration bill is a 700-page document and we are looking at it for implications on visas. The implications in our assessments are one or two clauses which will see active lobbying in the House of Representatives to see that things are made more practical," Premji said, during the announcement of the conglomerate's fourth quarter (Q4) results.

The Wipro chairman also felt that a few clauses in it are not as practical as they could be, hence could impact Indian as well as U.S.-based organizations. "Good thing is that it is only going to be operative next year, so there is enough time between now and the implementation of the immigration bill to ensure that some of the conditions are made a little more practical."

According to him, procedural delays could impact Indian IT firms, which send some of their employees on H-1B or L-1 visas to the U.S.. Wipro's chief executive officer of its IT Business, T.K. Kurien also reflected Premji's views and said that they are yet to go through the 700-page document thoroughly.

The bill is being promoted by a bipartisan group of senators called the Gang of Eight and it intends to overhaul the U.S. immigration laws by giving citizenship to over 11 million illegal and undocumented immigrants.

It also articulates if an employer has more than 50 employees or more than 50 per cent of their employees on H-1B or L-1 visas, it must pay a $10,000 fee per additional worker. Conversely, the bill encourages US-based technology firms such as Google, Intel and Facebook to bring more high-skilled foreign talent to the country.

As for his philanthropy, Premji cleared the air saying that he has already donated more than 25 per cent of his personal wealth to charity. "I have very clear views on what I intend to give to charity and today more than 25 per cent has already been given to charity," Premji said.

He, however, expressed that it was difficult to use money well in philanthropy. "It's more difficult to use money well in philanthropy than instituting money into philanthropy. We want to be sure that we continue to use it well and we don't continue to substitute the responsibility of government and that's very critical."

Being the first Indian to enter the 'giving pledge' club by Microsoft co-founder, Bill Gates, and iconic investor Warren Buffet, which goads the high and mighty to donate, at least, half their wealth to charity.

"We supplement and enhance what they (government) are doing and don't substitute what they are doing," said Premji.

 

On being questioned if he had committed more than 50 per cent of his wealth to the club, he remarked, "They have different forms of pledge for different countries. But it is completely a personal question."

The billionaire industrialist had donated 8.7 per cent from his personal shares in Wipro for philanthropy in 2010 and early this year, he transferred 295.5 million equity shares worth Rs. 12,300 crore to an irrevocable trust.Amid global uncertainty and challenging environment, latest data shows improvement in the US economy while debt-ridden Europe remained volatile, Premji said.

"The overall macro-economic data in the US seem to be improving, while in Europe, the economic backdrop remains very weak and will remain volatile," Premji told reporters here.

Though sentiments in the European financial markets continued to improve in the early months of 2013, the IT czar said customers, however, expected their vendor partners to own outcomes and deliver value.

"Focus on productivity continues to be high and customers expect IT partners to deliver value for their investments in the technology space," Premji further added.

Admitting to slowdown in the quarter under review (Q4), particularly in India due to macroeconomic conditions, Premji believes demand in the domestic market would improve in the coming quarters.

"We will also continue to invest in Brazil, China, Europe and the US," he noted.

(With inputs from IANS)