1 month ago
Last Updated:February 27, 2025, 10:28 IST
Trump's new gold card programme is being presented as a premium version of the existing Green Card, providing long-term residency and a route to citizenship
President Donald Trump and ally Elon Musk have hit foreign aid harder and faster than almost any other target in their push to cut the size of the federal government (IMAGE: REUTERS)
US President Donald Trump has said that the new ‘gold card’ citizenship initiative will allow American companies to hire Indian graduates from US universities.
The announcement, which provides a significant advantage for Indian students, follows Trump’s introduction of the ‘gold card’ on Wednesday—offering a path to US citizenship for wealthy foreign investors willing to invest USD 5 million.
Trump emphasised how the current immigration system has hindered top international talent, especially from India, from staying and working in the US. “A person comes from India, China, Japan, and other countries, attends Harvard or the Wharton School of Finance… they receive job offers, but the offer is immediately revoked because there’s no certainty about whether that person can stay in the country," he said.
Regarding the impact of this policy, Trump acknowledged that many talented graduates who were forced to leave the US became successful entrepreneurs back home. “They return to India or their home country, start businesses, and become billionaires, employing thousands," he said, pointing out the lost economic potential for the US.
Trump’s new gold card programme is being presented as a premium version of the existing Green Card, providing long-term residency and a route to citizenship. The initiative is also being marketed as a way to boost the US economy. “If we sell a million, that’s USD 5 trillion," Trump said, suggesting that the funds could help reduce national debt.
This program would replace the current EB-5 visa, which grants residency to investors who spend at least USD 1 million on businesses employing ten or more people. Trump believes the gold card will be transformative. “They’ll be wealthy, successful, spending a lot of money, paying a lot of taxes, and creating many jobs. We believe it will be extremely successful," he said.
With Trump’s ‘everything’s business’ mindset driving the programme, it is expected to launch by April, with about 10 million gold card visas initially available.
Location : First Published:February 27, 2025, 10:24 IST
News world ‘Talented People Forced To…’: Trump’s ‘Gold Card’ Will Allow US Firms To Hire Indian Graduates
