H-1B visa program has become a critical pillar for sustaining economic growth and innovation. With a predicted shortfall of 1.2 million tech workers by 2026 and nearly 1.9 million manufacturing jobs expected to remain unfilled by 2033, experts warn that reducing or eliminating H-1B visas could exacerbate these challenges.
Budget with ET
Sitharaman likely to give India’s ‘Aam Aadmi’ what they want in Budget?
Can Budget 2025 address India's unemployment woes?
Can the Budget provide a delta to the China plus one effort?
The H-1B visa program enables US companies to hire skilled foreign workers in specialized fields such as technology, engineering, and healthcare. These workers fill critical gaps created by a lack of domestic talent, with key industries like artificial intelligence, cloud computing, data analytics, and semiconductor manufacturing relying heavily on foreign expertise.
A report by Oxford highlights that US universities produce 1.7 lakh fewer computer science graduates annually than required to meet demand. With 66% to 90% of employers reporting struggles in finding skilled workers, foreign talent under H-1B visas has been indispensable in bridging this gap.
The US tech sector is growing at twice the rate of the overall workforce, with replacement rates for tech jobs requiring 350,000 workers annually through 2034. Meanwhile, manufacturing roles increasingly demand software and data analytics skills, areas where domestic talent supply falls short.
(Join our