Finance Minister Arun Jaitley has made a strong case for reforms in H1-B/L1 visa processes during bilateral talks with the US Treasury Secretary and US Commerce Secretary.
"Jaitley made a strong case for reforms in H1-B/L1 visa processes and social security contribution so that high calibre Indian professionals serving American interests are not unfairly deprived of their well-earned money. He also highlighted the contribution skilled Indian professionals have made to the US economy and said that this must be suitably appreciated by the US side," the Finance Ministry said in a statement on Friday.
The Finance Minister is on a one-week official tour to Washington DC to attend the annual meetings of the International Monetary Fund (IMF) and the World Bank and other associated meetings. He is accompanied by Reserve Bank of India Governor Urjit Patel and Economic Affairs Secretary Subhash Chandra Garg.
On the sidelines of the World Bank and IMF Meetings, Jaitley held bilateral meetings with the US Treasury Secretary and the US Commerce Secretary here and discussed the Indo-US economic cooperation, in particular how bilateral trade and investment can be improved between the two countries.
The Finance Minister highlighted the structural reforms India has undertaken through a series of bold measures, including the Goods and Service Tax (GST), financial inclusion and action against the shadow economy, the statement said.
Earlier, Garg delivered a keynote address on micro pension where he dwelt on the big challenge of convincing policy makers and the potential young persons needing pension after their active life. He appreciated the efforts of organisers in bringing a well-researched book as country and thematic reforms action needed to realise the dream of providing pensions to over 1.2 billion people world-wide.
The Economic Affairs Secretary also met with the World Bank CEO, Global Infrastructure Hub CEO and the Executive Vice President and CEO of Multilateral Investment Guarantee Agency.