The US policy will also lead to more services being diverted to India, sources said.
The suspension of fresh non-immigrant visas by the US is expected to benefit the 3 lakh visa holders from India currently residing in the US, sources have told NDTV amid concerns over the Donald Trump government's move yesterday to stop new workers from entering the country till the end of this year.
The category includes H-1B, H-2B, L-1A, L-1B, J-1 visas and people seeking entry on those visas into the US for the first time between June 24 and December 31 won't be allowed, the US announced yesterday.
On Tuesday, government sources told NDTV that the new policy won't impact the existing H-1B visa-holding Indians in the US and may turn out to be more beneficial to them.
The US policy, they said, can result in the shortage of skilled workforce and the existing H-1B visa holding Indians can command higher remuneration and higher remittances.
The contribution of non-immigrants have been invaluable for the US, studies by several organisations -- including the Federal Reserve, National Academy of Sciences and Brookings Foundation - have shown.
However, in view of the rising unemployment and weak economic conditions due to coronavirus, the US would have anyway issued far fewer visas, so the proclamation will have limited effect, sources said.
The US policy will also lead to more services being diverted to India, sources said, pointing out that the new policy will impose new challenges in absence of local talent and outsourcing will be inevitable.
Sources also said India will benefit by the retention of the highly skilled individuals, who were planning to leave for the US after receiving H-1B visas. These highly skilled individuals are in high demand in science and technology sectors in India, and they can directly contribute to India's progress by staying back, sources said.