Buffett's statement could be a reality check for Trump's controversial efforts
In his recent annual letter to shareholders, Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., mentioned "ambitious immigrants" for growth in the US. “Americans have combined human ingenuity, a market system, a tide of talented and ambitious immigrants, and the rule of law to deliver abundance beyond any dreams of our forefathers," Buffett wrote in his letter which has become a mega event in the US over the years as shareholders wait to read nuggets of wisdom from Buffett who is a legend in investment circles. Buffett's statement could be a reality check for US President Donald Trump's controversial efforts to cap work visas for foreign companies, mainly in the tech sector. Indian IT companies, which will suffer greatly from Trump's curbs on H-1B visas, are in fact big contributors to the US economy in several ways. The most obvious contribution is the Indians heading top tech firms. Google and Microsoft won't have Sunder Pichai and Satya Nadella had it not been for a liberal work visa regime. Pichai and Nadella lead what Buffett calls "the tide of talented and ambitious immigrants" which includes dozens of Indians at top places in big American companies. A few of them are Adobe CEO Shantanu Narayan, PepsiCo CEO Indra Nooyi, MasterCard CEO Ajay Banga, GlobalFoundries CEO Sanjay Jha, NetApp CEO George Kurien and Harman International CEO Dinesh Paliwal.
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