By IANS,
Santa Clara (California) : Global technology and innovation hub Silicon Valley needs “Indian talent and entrepreneurial energy” to build powerful businesses, according to a economic and policy think tank in the US.
In a report titled “Global Reach: Emerging Ties Between the Bay Area and India”, the Bay Area Council Economic Institute said Silicon Valley success stories have always had an Indian edge and the cooperation with Indian talent will continue “to unleash powerful businesses”.
The institute is a public-private partnership of business, labour, government and higher education that works to support the economic vitality and competitiveness of California and the Bay Area.
According to the 300-page report, the research institutions and technology companies in Silicon Valley and its risk-taking culture will work better when juxtaposed with Indian talent and entrepreneurial energy.
However, the council warned that the present visa and immigration policies of the US restricted access to global talent.
“US visa and immigration policy unnecessarily restricts access to global talent, fails to compete aggressively for top foreign students and researchers, and discourages them from staying to contribute to the economy,” said the report.
This leads students and recent immigrants to return home, especially at a juncture when India is no more a destination for lower-end-work as against the innovation streams in the Valley, it added.
The council also said the Bay Area was now working on plans to create stronger ties between Silicon Valley and cities like Bangalore.
The India report is the second in a series that explores the Bay Area’s ties with emerging economic giants. The first one related to the region’s strong links with China.