The richest man of India, Mukesh Ambani, is of the belief that American President Donald Trump is a "blessing in disguise" for India.
Ambani, who has already spent roughly 1.3 trillion Indian rupees (approximately $193 billion) for Reliance Jio, a new network carrier for mobiles and tablets, spoke during the NASSCOM summit on Feb. 15.
"Trump can actually be a blessing in disguise. The domestic IT industry can focus on solving problems right here, which is a huge market," he said.
NASSCOM delayed its annual projection report to May this year, awaiting the details of President Trump's plan of doubling the minimum salary of H1-B visa holders and restraining visa issuance to the techies.
How Is Trump 'A Blessing In Disguise' For India?
Ambani, who is the Chairman of Reliance Industries, which is one the major telecom companies in India, believes that Trump's order to stop the outsourcing of American jobs will ultimately help his home country.
Ambani believes that India will regain the IT talent, which has shifted to U.S. shores in search of better opportunities, because of the order. With people possibly returning to India as a result of the new administration's visa policies, the issues plaguing the telecom industry in the country would be resolved.
India's IT outsourcing sector, which has a net worth of $150 billion, is in particular jeopardy due to the Trump administration's decision. The outsourcing firms in the country also get about 65 percent of their revenue from the United States and, therefore, are heavily dependent on the work visa provided by America.
The decision taken by the Trump administration may hamper Indians working in the U.S. Nearly 9.5 percent of the GDP in India comes from the outsourcing industry, which employs 3.7 million people. The decision taken by the Trump administration has led to trouble for IT companies like Tata Consultancy Services (TCS) and Infosys.
"The world might want to build walls around. I think it is very important for us not to be influenced by those developments," added Ambani, addressing all Indian companies and individuals who are bearing the brunt of the decision.
He emphasized on the importance of keeping business partnerships open, which Ambani believes will lead to the strengthening of domestic industries.
Ambani's message come at a time when many Indians in the U.S. are perhaps resenting the decision taken by the Trump administration. The future of these Indians and many other immigrants remain unsure for now. However, the words spoken by the Chairman of Reliance Industries suggests that employment opportunities in India may be higher, especially in the IT sector.
Photo: Gage Skidmore | Flickr