New Delhi, Jan 12 (KNN) The Indo-American Chamber of Commerce (IACC) has hailed the reports in certain sections of media that the US immigration officials have clarified  that they  are  not contemplating any regulatory changes that would compel the H1-B visa holders to leave US after six year limit.

Responding on this, Vasant Subramanyan, National President, IACC said, “This assurance by the US authorities should put to rest all speculations and rumours that caused panic in the minds of people having short term work permits.”

In a statement issued today, IACC President said that the unprecedented cordial and diplomatic relationship between India and US, two largest and oldest democracies in the world, can address many issues and find amicable solutions in a spirit of “give and take”. In a dynamic economic engagement, there can be many challenges and “wish lists” that may have to be addressed.”

“I am sure whatever bilateral issues that are awaiting to be resolved will merit the active consideration of both the administrations. IACC through its membership strength and advocacy will work towards creating a conducive environment to address such issues, be they relating to India’s or US’s wish lists or concerns,” he added.

Subramanyan said that the Gresham’s law in economics, which says that bad money drives good money out of circulation, is also applicable in the bilateral economic engagement in the sense that progress in bilateral economic relations at times gets marred by certain challenges.

In the last few years, the bilateral economic relations between the two countries have been at its best. Trade has increased. Investments have picked up substantially both in terms of quantum and quality. Technical hand-holdings are its record high. Yet, these positive developments may become obscure when irritants and challenges crop up, such as the H1-B visa or any other issue that may have to be addressed by the political administrations, which have to take a balanced view in a dispensation where politics and economics cannot be segregated all the times, he added.

IACC assured to work towards putting some of these positive developments in the bilateral relations in the public domain.