(Image source from: Telegraphindia.com)
Elon Musk states that the United States has greatly benefited from skilled individuals from India. The billionaire, who was a guest on the most recent episode of "People by WTF" podcast hosted by Zerodha co-founder Nikhil Kamath today, also pointed out that some of America's so-called anti-immigration laws were prompted by the "misuse" of the H-1B visa system and the earlier administration’s "free-for-all" policy. His comments come as countless Indians find the American dream of getting a top-notch education, earning high salaries, enjoying a better quality of life, and having social mobility becoming more challenging due to increasing US visa restrictions and unpredictable policies. Discussing how some Americans feel that their jobs are being taken by people from abroad, he mentioned, "I’m not sure how real that is. From what I can see, there is a constant shortage of skilled individuals. So from my viewpoint, I think it would be beneficial to have more talented people to handle these tough jobs." Musk, the owner of Tesla, SpaceX, X, and XAI, added that his companies aim to "attract the most skilled people worldwide."
The business leader also talked about "some misuse of the H-1B visa." However, he does not believe the program should be eliminated. "It seems that there has been some misuse of the H-1B system. It is fair to say that certain outsourcing companies have exploited the H-1B program, and we need to prevent such exploitation. But I am definitely not aligned with the idea that we should terminate the H-1B program," he said. "They probably do not realize that doing so would have negative consequences," he added. For many years, the H-1B visa has provided an opportunity for young engineers and scientists from India, China, and other nations to transform their years of study into well-paying jobs and the chance for permanent residency. However, in September, President Trump stated that new H-1B visa applications would cost $100,000, a significant increase from the approximately $2,000 to $5,000 that employers used to spend to sponsor workers. This decision followed requests from his supporters for a crackdown on H-1B visas, citing widespread misuse and fraud in the program, along with claims that H-1B visa holders were causing job losses for Americans.
Recently, Trump mentioned that he would be happy to let skilled immigrants come to the country to help American workers learn how to create advanced products like chips and missiles. He pointed out that a business cannot build a large computer chip factory with workers who don't even recognize what a chip is. He supported the H-1B visa program, stating that the US needs to attract talent globally because certain skills are missing in the nation. According to US government figures, India was the biggest recipient of H-1B visas last year, representing 71 percent of the total approved, while China followed far behind with 11.7 percent. The H-1B visa is usually granted for three years and can be extended for an additional three years, allowing US tech companies to employ millions of skilled foreign workers to address workforce shortages.
In the podcast, Musk discussed the significance of having border controls. He said, "During the Biden administration, there were basically no border restrictions. Without border controls, you can't really be considered a country. This led to a huge increase in illegal immigration while Biden was in office. It actually created a somewhat negative selection process. When there's a big financial reason to enter the US illegally and access government benefits, people will naturally be encouraged to come. This creates an incentive system that makes no sense. It's essential to have border controls; not having them is rather absurd."
