Core Insights - The new H-1B visa regulations may inadvertently lead to increased reliance on Indian technology centers by major American banks, contrary to the intention of protecting American jobs [2][6] - Indian nationals represented 72.3% of total H-1B recipients during the US fiscal year ending September 2023, highlighting the significant role of Indian talent in the US labor market [2][6] Group 1: Impact on Financial Institutions - Major American banks such as Citigroup, JPMorgan, and Goldman Sachs are significant employers in India's global capability centers, which perform various functions including trading assistance and risk assessment [3][6] - Citigroup employs 33,000 personnel in India, Bank of America has over 27,000, and JPMorgan employs 10,000 staff, indicating a substantial workforce presence [5][6] Group 2: Growth of Global Capability Centers - The Global Capability Centres industry has grown into a $64 billion sector, with an annual growth rate of 9.8% projected from 2019 to 2024, and is expected to expand from 1,700 centers to approximately 2,500 by 2030, reaching a market value of $110 billion [5][6] - Analysts suggest that banks will recalibrate their strategies for global capability centers, potentially onshoring jobs to India and adding new job functions [5][6] Group 3: Response to Immigration Restrictions - Research indicates that companies often respond to skilled immigration restrictions by increasing overseas recruitment, with highly internationalized firms employing one overseas worker for each visa application rejection [6] - The new H-1B restrictions are expected to accelerate the trend of pushing more high-value roles into Indian hubs, as India has become a foundation for global capability centers for international banks [6]