There was a time not too long ago when India’s millennial elites, born into an age of globalization, hailed the “technological revolution” as a one-way ticket to infinite opportunity. Today the economic miracle has been derailed, and young workers are starting to demand a refund.
In recent months, workers have reported that mass layoffs at Indian tech hubs are becoming routine as companies shed engineers and slash wages and benefits. Companies that previously invested heavily in emerging Indian firms for global outsourcing contracts seem to be recoiling from a volatile global labor market, and India’s rapid economic expansion is hitting snags.
The global digital bubble’s seemingly inevitable pop has also been sped along by Trump’s protectionist rhetoric and promise of “reshoring” offshored jobs to the United States. This week, even as Indian Prime Minister Narendra Modi talks business on his maiden visit to the Trump White House, the administration is also moving to tighten the criteria for the H-1B visa, a federal program that has drawn in tens of thousands of foreign professionals, particularly technicians and programmers from India—often at relatively low pay rates.