Tag: indians

  • Stocks remain top investment choice for next-gen wealthy Indians: Report

    Indian stock market opens flat, Sensex above 73,600

    Stocks remain top investment choice for next-gen wealthy Indians: ReportIANS

    Stocks are the most preferred investment option among India’s next-generation high-net-worth individuals (HNWIs), a new report said on Saturday.

    The report by Knight Frank has revealed that 23 per cent of young wealthy Indians consider stocks their priority investment, followed closely by cash at 22 per cent and property at 21 per cent.

    The trend is similar on a global level, where 22 per cent of next-gen HNWIs have chosen stocks as their primary investment, followed by property and cash.

    Cryptocurrencies and digital assets have found limited preference, with only 5 per cent of Indian HNWIs considering them a key investment choice. Globally, this figure stands slightly higher at 9 per cent. Bonds have gained the interest of 8 per cent of India’s young wealthy individuals, compared to 6.5 per cent worldwide.

    Knight Frank’s report highlights that despite the growing popularity of alternative investments like cryptocurrencies, venture capital, and art, the younger generation still prefers traditional assets.

    Stocks, property, and cash remain the most popular investment options across income groups.

    The report also sheds light on investment choices based on gender. Across the globe, men tend to favour stocks, while women lean towards property and cash investments.

    However, in India, both men and women from the next generation of wealthy individuals prefer stocks over other asset classes. Meanwhile, a recent report by Knight Frank showed that the next generation of wealthy Indians is showing a strong interest in luxury assets, with high-end cars and premium real estate emerging as their top preferences.

    Sensex, Nifty end lower as investors stay cautious

    Stocks remain top investment choice for next-gen wealthy Indians: ReportIANS

    About 46.5 per cent of next-gen HNWIs in India aspire to own a luxury car, making it the most sought-after asset.

    Luxury homes are also a major attraction, with 25.7 per cent expressing a desire to invest in high-end real estate.

    The report highlighted that real estate is the second-most preferred luxury asset among India’s young wealthy individuals.

    Apart from cars and property, art collections are another favoured investment, with 11.9 per cent showing interest in acquiring valuable artwork.

    (With inputs from IANS)

  • H1B Visa Fees For Indians: How much fee will Indians have to pay for H-1B visa required for jobs in America? Know here

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    US H1B Visa Fees For Indians: H-1B visa is a special type of work visa that allows foreign professionals to work in the US. There are various types of fees for this, most of which usually falls on the shoulders of the employer (company). Indians have a significant share in the H-1B visa category.

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    Skilled foreign workers, including Indians, need H-1B visas to work in specialty occupations in the US, which are sponsored by the company. This visa attracts a hefty fee which varies depending on the type of petition being filed and the status of the employer (company). Indians account for a significant share of the visa holders.

    According to a report by HT, tech companies from India have secured a fifth of all H-1B visas issued by the US. The report quoted PTI as saying that out of a total of 1.3 lakh H-1B visas in the period April-September 2024, 24,766 were issued to companies of Indian origin. After all, how much fee is charged for H-1B visa, let’s know-

    Fees for H-1B visa

    According to a report , the H-1B visa application fee includes registration fee, filing fee, employer surcharge, premium processing fee (which is optional).

    Registration fee: To be a part of the H-1B lottery, applicants have to pay a registration fee of $10. This fee has remained the same since 2024. This fee is usually paid in March each year.

    Filing fee: Companies are required to pay a base filing fee of $460 for all H-1B petitions. In addition, an anti-fraud fee of $500 is mandatory for all initial and employer change petitions to prevent fraud and abuse in the H-1B visa program.

    Employer surcharge: Companies that have more than 50 employees, half of whom have H-1B or L-1 visas, are required to pay a $4,000 fee under the Consolidated Appropriations Act of 2026. This surcharge will be effective until September 30, 2025.

    Employers who want to hire foreign workers quickly have to pay this fee too

    Premium Processing Fee (Optional): For time-sensitive industries, there is also a premium processing fee, which is optional. Employers who are in a hurry to hire a foreign worker can choose to have their H-1B applications processed in just 15 calendar days by paying a premium processing fee of $2,805.

    Who pays what?

    The majority of the financial burden of the H-1B visa application process usually falls on the employer’s shoulders. The additional $4,000 fee paid by the employer is also entirely borne by the employer. However, there are specific rules through which fees related to visa stamping and interview can be passed on to employees.

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  • From civil servants to college students, Indians are getting trained in AI tools for work and life – CRN

    From civil servants to college students, Indians are getting trained in AI tools for work and life – CRN

    As AI tools make their way into the workplace, they have the potential to create new opportunities for workers everywhere. But only if people know how to take advantage of them.

    Over the next five years, Microsoft will partner with ministries, state governments and NGOs to train ten million Indians in AI skills under its ADVANTA(I)GE INDIA initiative – fuelling productivity and opening doors to jobs.

    The initiative builds on a previous program of the same name that has skilled 2.4 million Indians, from civil servants to college students to people with disabilities.

    “Our aim is to not only enhance employability but also bridge the digital divide and create a more inclusive future for every Indian,” said Puneet Chandok, president of Microsoft India and South India.

    Those involved in the program say that as the use of AI tools spreads across the workforce, those who don’t learn how to use them risk falling behind.

    Neha Jain is an Indian Administrative Service Officer who is currently Special Secretary, IT & Electronics, Government of Uttar Pradesh, where government officers are undergoing AI training. “Once upon a time, humans discovered fire and were afraid of it. But then we learned to channelize it and put it to good use,” Jain said. “Similarly, [AI] needs to be used wisely for the benefit of humanity, rather than letting us be devoured by it.”

  • Revamped H-1B Visa process in 2025 could benefit Indians

    Following a successful pilot programme, the US is now set to allow H-1B workers to renew their visas without having to leave the country. This comes as a boon for Indian workers, who, in the last few years, have accounted for over 70 percent of the H-1B visa issued by America.

    Indians have accounted for over 70 percent of the H-1B visas provided in 2022 and 2023. Representational image. Photo courtesy: www.freepik.com
    Indians have accounted for over 70 percent of the H-1B visas provided in 2022 and 2023. Representational image. Photo courtesy: www.freepik.com

    The pilot programme, launched a year ago, involved approximately 20,000 participants who met the requirements listed in the US Federal Register, reports said. One of the concerns regarding the H-1B visa, given to highly-skilled professionals from other countries to reside in the US and work, required the visa holder to travel back to their home country for a stamp of renewal.

    The American administration wanted to do away with the process and hence launched it in a small scale. Acknowledging the success, the US Department of State, in its year-end press statement, said the pilot project for H-1B renewal “allowed many specialty occupation workers from India to renew their visas without leaving the United States. This pilot program streamlined the renewal process for thousands of applicants, and the Department of State is working to formally establish a US-based renewal program in 2025.”

    According to reports, the US is yet to set a date when the new process will begin officially.

    Indians ruling the roost

    According to US State Department data, in 2022, the country issued 320,000 H-1B visas. Among those, 77 percent were given to Indians.

    The following year, Indians accounted for 72 percent of the 386,000 visas issued by America.

    Not just workers, Indians also make up the highest number of international students in the US, surpassing China. A record number of 331,000 student visas were taken by Indians in 2024.

    Representational image. Photo courtesy: Unsplash
    India overtook China as the country with the most international students in the US. Representational image. Photo courtesy: Unsplash

    As per official date, Indian visitors to the US have also increased five folds in the last few years. Records showed that more than two million Indians traveled to America in the first eleven months of 2024. This was 26 percent more than the same period in 2023.

    The big visa debate

    Meanwhile, the development comes at a time when there is an intense debate over the H-1B visa in the US.

    While the MAGA base is against the visa and has termed it as a threat to American jobs and Western civilisation, Donald Trump, after siding with them during the election, now has matched pitch with his close aide Elon Musk.

    (Left to right) Elon Musk, Donald Trump, Vivek Ramaswamy. Elon Musk photo: PMO/Wikipedia. Musk Photo: Instagram. Ramaswamy Photo: Screengrab from X.
    (Left to right) Elon Musk, Donald Trump, Vivek Ramaswamy. Elon Musk photo: PMO/Wikipedia. Musk Photo: Instagram. Ramaswamy Photo: Screengrab from X.

    The world’s richest man and Tesla boss has appeared adamant about the stay of the H-1B visa, arguing that America needs smart workers to have the same impact in the world it used to have. Musk, who moved into the US from South Africa with the help of the H-1B visa system, also cited himself as an example.

    ALSO READ: H1B visa debate intensifies ahead of Donald Trump’s inauguration

    The visa programme has also found support from Musk’s proposed DOGE colleague Vivek Ramaswamy, who said “America needs talented people”.

  • US issued over 1 million nonimmigrant visas to Indians for second straight year

    US government on Friday announced it issued over 1 million nonimmigrant visas to Indians for second straight year
    US issued over 1 million nonimmigrant visas to Indians for second straight year. Photo Courtesy: Unsplash

    The US Mission in India on Friday said it issued more than one million nonimmigrant visas for the second year in a row, including a record number of visitor visas, underscoring the huge demand of Indians for travel to the United States.

    In the past four years, visitor numbers from India have increased by five times, and more than two million Indians travelled to the United States in the first eleven months of 2024, a 26 percent increase over the same period in 2023, read a statement issued by the US Embassy in India.

    “Over five million Indians already have a nonimmigrant visa to visit the United States and each day the Mission issues thousands more,” the statement said.

    The embassy said the US Department of State completed a successful pilot program to renew H-1B visas in the United States this year.  

    This allowed many speciality occupation workers from India to renew their visas without leaving the United States.  

    “This pilot program streamlined the renewal process for thousands of applicants, and the Department of State is working to formally establish a US-based renewal program in 2025,” the statement said.

    The US Mission to India issued tens of thousands of immigrant visas, facilitating legal family reunification and the migration of skilled professionals.  

    “These immigrant visa holders became permanent residents upon their arrival, adding to the already rich and sizable Indian diaspora community in the United States,” the statement said.

    The US Mission to India also provided more than 24,000 passports and other consular services to American citizens living and travelling in India.  

    The embassy said a new version of the Smart Traveler Enrollment Program (STEP) debuted in 2024, making it easier for the embassy and consulates to contact American citizens during emergencies and send them safety and security alerts.

    “Increased processing of thousands of interview waiver-eligible nonimmigrant visa applications each week made it quicker and easier than ever for Indians to renew their nonimmigrant visas,” the statement said.

    By streamlining operations and utilising global consular resources, the U.S. Mission has been able to redirect its own resources to focus on in-person interviews, reducing wait times for all applicants.

    More Indian students than ever before now have US student visas.

    In 2024, India became the top sender of international students for the first time since the 2008/2009 academic year with more than 331,000 students overall studying in the United States, the embassy said in the statement.

    India also remained the largest sender of international graduate students in the United States for the second year; Indian graduate student numbers increased by 19 percent to reach almost 200,000 students, it said.

    “Many exchange visitors will now be able to remain in the United States and not need to return home for two years after completing their programs in the United States, offering them more opportunities to further their careers and education,” the statement said.

    “The removal of India from the Exchange Visitors Skills List has provided greater flexibility for these Indian J-1 nonimmigrant visa holders,” the statement said.

  • Germany Christmas market car attack: Seven Indians injured 

    Seven Indians injured after car ploughs into a crowd of people at a Christmas market in Germany's Magdeburg city.
    The attacker (lying on the ground) was arrested from the spot. Photo courtesy: Screengrab from YouTube.

    At least seven Indian nationals were injured after a man ploughed his car through a Christmas market in the German city of Magdeburg which left at least five people dead on Friday.

    Three of the injured Indians have been discharged from the hospital, sources told Indian news agency UNI.

    The Indian Embassy is in touch with all those injured in the attack, the sources said.

    Meanwhile, the Ministry of External Affairs condemned the incident and said in a statement: “We condemn the horrific and senseless attack at a Christmas market in Magdeburg, Germany. Several precious lives have been lost and many have been injured.”

    “Our thoughts and prayers are with the victims. Our Mission is in contact with Indians who are injured, as well as their families, and rendering all possible assistance,” the statement said.

    The Indian Embassy in Germany confirmed that some Indian nationals were injured in the incident.

    However, it did not specify the exact number of people injured in the car attack.

    In an X post, the Embassy said: “@eoiberlin is maintaining close contact with Indians who have been injured in unfortunate attack at Christmas market in Magdeburg.”

    Meanwhile, the key suspect in the car attack incident that left the European country shocked ahead of Christmas, has been remanded into custody.

    The 50-year-old was brought before a judge on Saturday evening following the incident on Friday when a black BMW car ploughed through the crowded market injuring more than 200 people, reported BBC.

    The investigation into the incident is still ongoing.

    As per local media reports, the suspect has been identified as Saudi citizen Taleb al-Abdulmohsen.

    He reportedly arrived in Germany in 2006 and worked in the nation as a doctor.

    At least four women and a boy died in the attack.

    The suspected attacker has no known links to Islamist extremism, reported BBC.

    A source close to the Saudi government told the BBC it sent four official notifications known as “Notes Verbal” to German authorities, warning them about what they said were “the very extreme views” held by al-Abdulmohsen.

    The source, who asked not to be named, said these notifications were ignored.

  • US government relaxes H-1B visa rules, Indians likely to benefit from it

    US government relaxes H-1B visa rules
    Joe Biden-led outgoing US government relaxes H-1B visa rules. Photo Courtesy: Pixabay

    The Department of Homeland Security (DHS) announced a final rule that will significantly enhance US companies’ ability to fill job vacancies in critical fields, a measure that is believed to be helpful for thousands of Indians.

    The new rule

    The new rule modernises the H-1B program by streamlining the approvals process, increasing its flexibility to better allow employers to retain talented workers, and improving the integrity and oversight of the program, as per a statement released by the US Department of Homeland Security (DHS).

    The rule builds on previous efforts by the Administration to ensure the labour needs of American businesses are met while reducing undue burdens on employers and adhering to all US worker protections under the law.

    “American businesses rely on the H-1B visa program for the recruitment of highly-skilled talent, benefitting communities across the country,” said Secretary of Homeland Security Alejandro N. Mayorkas.

    “These improvements to the program provide employers with greater flexibility to hire global talent, boost our economic competitiveness, and allow highly skilled workers to continue to advance American innovation,” said Mayorkas.

    USCIS Director Ur M. Jaddou said: “The H-1B program was created by Congress in 1990, and there’s no question it needed to be modernized to support our nation’s growing economy.”

    “The changes made in today’s final rule will ensure that US employers can hire the highly skilled workers they need to grow and innovate while enhancing the integrity of the program,” Jaddou said.

    Why H-1B nonimmigrant visa is important?

    H-1B nonimmigrant visa program allows US employers to temporarily employ foreign workers in speciality occupations, defined by statute as occupations that require highly specialised knowledge and a bachelor’s or higher degree in the specific specialty, or its equivalent.

    What is the aim of the new rule?  

    The final rule aims to provide greater flexibility for employers and workers by modernising the definition and criteria for speciality occupation positions as well as for nonprofit and governmental research organisations that are exempt from the annual statutory limit on H-1B visas.

    These changes will help US employers hire the employees they need to meet their business needs and remain competitive in the global marketplace.

    F-1 visa  

    The rule also extends certain flexibilities for students on an F-1 visa seeking to change their status to H-1B to avoid disruptions in lawful status and employment authorisation for those F-1 students.

    To improve program efficiency, the final rule will allow USCIS to more quickly process applications for most individuals who had previously been approved for an H1B visa.

    It will also allow H1B beneficiaries with a controlling interest in the petitioning organisation to be eligible for H-1B status subject to reasonable conditions.

    “Finally, the rule strengthens program integrity by codifying USCIS’ authority to conduct inspections and impose penalties for failure to comply; requiring that the employer must establish that it has a bona fide position in a speciality occupation available for the worker as of the requested start date; clarifies that the Labor Condition Application must support and properly correspond with the H-1B petition; and requires that the petitioner have a legal presence and be subject to legal processes in court in the United States,” the statement said.

    In order to implement this rule, a new edition of Form I-129, Petition for a Nonimmigrant Worker, will be required for all petitions beginning January 17, 2025, which is the rule’s effective date.

  • 11 Indians among 12 dead in Georgian restaurant due to suspected carbon monoxide poisoning 

    11 Indians die in a Georgian restaurant.
    11 Indians die in a Georgian restaurant. Photo Courtesy: Unsplash

    At least 11 Indian nationals died in a restaurant in Georgia due to suspected carbon monoxide gas poisoning, media reports said.

    Apart from 11 Indian nationals, one Georgian person died in the incident, confirmed the country’s Ministry of Internal Affairs in a statement released on December 14.

    The restaurant is located in Gudauri ski resort.

    “In the resting area on the second floor of the Indian restaurant located in Gudauri, the bodies of 12 people employed in the same facility were found,” read a statement issued by the Ministry.

    “At the initial inspection, no signs of body injuries or signs of violence were detected,” it said.

    Georgian authorities are currently investigating the incident.

    The Indian Embassy in Georgia condoled the loss of lives in the incident.

    The Embassy said in a statement: “The Embassy of India in Tbilisi is saddened to learn of the unfortunate passing of eleven Indian nationals in Gudauri, Georgia, and extends its deepest condolences to their families.”

    The Embassy said it is working with local authorities to facilitate the prompt repatriation of the mortal remains to India. 

    What is carbon monoxide poisoning?

    As per Mayo Clinic website, carbon monoxide poisoning occurs when carbon monoxide builds up in the blood.

    When too much carbon monoxide is in the air, the body replaces the oxygen in the red blood cells with carbon monoxide. This can lead to serious tissue damage, or even death, Mayo Clinic website said.

  • Thailand to roll out E-Visa facility for Indians from January 1

    Thailand announces E-Visa for Indian tourists from January 1.
    Thailand announces E-Visa for Indian tourists from January 1. Photo Courtesy: Unsplash

    The Thai Embassy in New Delhi on Wednesday announced that E-Visa will be rolled out for Indian passport holders from January 1.

    The Embassy said the 60-day visa exemption for tourism and short business purposes for Indian ordinary passport holders remains effective ‘until further announcement’.

    The statement issued by the Embassy said: “Applicants, non-Thai nationals, must apply for all types of visas at the website https://www.thaievisa.go.th.”

    The Embassy said people can submit their applications themselves or via a representative.

    “Applicants must choose to pay a visa fee for which the respective Embassy and Consulate-Generals will provide details on the offline payment options,” it said.

    The Embassy confirmed that the visa will be processed within 14 working days from the date of the receipt of the visa fee.

    Deadline for the regular visa application under the current system

    Ordinary passport applications submitted at the designated visa processing companies will be accepted until 16 December 2024.

    Diplomatic and official passport applications submitted at the Embassy or Consulate-General will be accepted until 24 December 2024.

  • Max Life Insurance survey reveals only 24 percent Indians confident of their savings lasting beyond 10 years post-retirement

    The Indian life and health insurance markets are significantly underinsured compared to global standards, leaving a large portion of the population vulnerable to financial distress in the face of health crises or loss of life. The India Retirement Index Study (IRIS), an annual retirement study by Max Life Insurance and KANTAR, reported its findings recently. The survey aims to understand the retirement readiness of urban India, with insights into awareness, aspirations and challenges of consumers during retirement and its planning. India retirement index is the degree to which Indians feel prepared for tomorrow’s retired life on a scale 0 to 100. It is based on how prepared India is for a healthy, peaceful and financially independent post-retirement life.

    Representational image. Photo courtesy: Unsplash
    Representational image. Photo courtesy: Unsplash

    As per the survey’s fourth edition, southern India (48) stands behind eastern India (54) and western India (49), as well as the national average of 49. This score, however, places the region at par with northern India.

    Rahul Talwar, EVP & Chief Marketing Officer, Max Life Insurance. Photo courtesy: Collected
    Rahul Talwar, EVP & Chief Marketing Officer, Max Life Insurance. Photo courtesy: Collected

    Rahul Talwar, EVP & Chief Marketing Officer, Max Life Insurance, commented: “As highlighted by IRIS 4.0, South India continues its journey towards building holistic retirement readiness with a steady index score of 48 points. While there is stability, there is also a need for greater financial planning and health focus as showcased in the slender financial and health index movements. At Max Life Insurance, we are dedicated to addressing these gaps by empowering individuals with tailored solutions and insights that drive proactive retirement planning. Together, we aim to create a secure future for all.”

    Key findings from the survey

    As per IRIS 4.0 — which surveyed 2077 people across 28 cities between June and July, 2024, through self-administered digital study — 57 percent of people living in urban India believe that their retirement savings will be exhausted in only 10 years into their retirement. Only 24 percent are confident that their retirement savings will last for more than 10 years into retirement.

    It further found that 31 percent of people in India are still not sure of the corpus required to sustain their current lifestyle after retirement.

    IRIS 4.0 infographic. Photo courtesy: www.maxlifeinsurance.com
    IRIS 4.0 infographic. Photo courtesy: www.maxlifeinsurance.com

    As per the survey, 44 percent of respondents believe that retirement planning should begin before 35 years of age.

    Sixty-three percent of respondents living in urban India have already started planning for their golden chapter.

    Lack of a trusted advisor — as stated by 31 percent of the respondents — acts as a barrier to retirement planning.

    Eighty-two percent of respondents feel environmental change will affect their retirement life.

    Forty-eight percent of women felt confident that they’ll stay fit in their golden years (after 65 years of age).

    Three in 4 gig workers said they feel their retirement age would be lonely.