Indian IT companies in focus at India-US Business Summit

Prime Minister Narendra Modi asked visiting US president Barack Obama for easy norms for Indian IT companies at India-US Business Summit attended by nearly 500 business leaders from US and Indian industry.

“Indian IT companies are creating skilled jobs in the United States; and, helping US companies stay ahead. They have also helped US military veterans rebuild their lives,” Mr Modi said

During the current visit of the US President, both countries have agreed to resume talks on totalization agreement, a long pending demand of Indian IT industry. This agreement, Indian experts say, will exempt Indians IT professionals, who are take up short-term assignments in the US, from paying social security tax.

NASSCOM in a statement thanked Government of India, for bringing forth India’s concerns on the H-1B visa to the United States and getting an agreement with the US government to hold a discussion on Totalisation agreement.

NASSCOM also welcomed President Obama’s announcement of $4 bn Indian Diaspora Investment Initiative for boosting trade and investment ties with India.

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