I think the U.S. already had an already robust [prevailing wage] process in the H-1B bill. I think that works quite well.

On average Indian companies get 12,000 H-1B visas a year. People stay [in the U.S.} for an average of two years here; it isn't as if you are accumulating H-1B visas over time. How could a few thousand people impact the wages so much?

No, I would not say so. It's about the total cost of a company to get an H-1B visa person here. The total cost of these employees is not cheaper than like-to-like skills.

I think there will be business models that have to change. The work that was done on site will then move either to offshore back to India or to nearshore centers in Canada and Latin America if it has to stay in the same time zone. The global sourcing model will continue.

If those highly skilled workers are available as Americans, then Indians companies would hire them. Does the downturn offer them an opportunity? Surely it does. The fact is that Wipro itself has more than 2,300 American workers. These are good jobs that have been created here by these Indian companies.