How Trump’s “Gold Card” Could Impact the American Dream of Indian Students in the US

Washington, DC: Defending his controversial "Gold Card" immigration proposal, US President Donald Trump asserted that the initiative would help American businesses retain highly skilled talent, particularly bright students from countries like India, China, and Japan, who have pursued higher education in prestigious US institutions.

The proposal, which Trump insists is not merely a pathway for wealthy immigrants, would allow companies to purchase residency status for foreign graduates who have excelled academically in the US.

Trump’s Justification: Addressing Talent Drain & Workforce Challenges

"I get calls from companies that want to hire the No. 1 student at a school—someone from India, China, Japan, or elsewhere. They go to Harvard, Yale, or the Wharton School of Finance, graduate at the top of their class, and then receive job offers," Trump said on Wednesday, during the first full Cabinet meeting of his second term.

However, he noted that many such job offers are rescinded due to immigration uncertainties, making it difficult for firms to retain top-tier talent.

"I want to make sure that these individuals can stay in the country. Companies can buy a Gold Card, which they can use as a recruitment tool. We're hoping to roll this out within the next two weeks," he announced.

Silicon Valley’s Talent Crunch & Legal Immigration Reforms

The US tech industry, particularly Silicon Valley, has long struggled with filling key positions amid complex immigration policies. While Trump has historically taken a hard stance on undocumented migration, he now argues that the US should embrace legal immigrants with in-demand skills or those with significant investment potential.

The Gold Card initiative would provide an alternative to existing work visas, offering a clear path to residency and, potentially, citizenship for individuals willing to pay a $5 million fee.

"I think it's going to sell like crazy. It's a bargain," Trump said, predicting strong demand from corporations looking to retain foreign graduates.

A Revenue Source to Offset National Debt?

A key element of Trump’s defense of the Gold Card initiative is its potential to generate revenue for the US government.

"If we sell one million Gold Cards, we can raise $5 trillion to pay down the national debt," Trump claimed. However, immigration experts question whether such an extensive pool of eligible candidates actually exists.

Commerce Secretary Howard Lutnick, who sat beside Trump during the discussion, suggested that the Gold Card program could replace the existing EB-5 investor visa, which currently allows foreign nationals to gain US residency by investing in American businesses and creating at least 10 jobs.

Congressional Approval & Unanswered Questions

While Trump asserted that his administration does not require congressional approval to launch the Gold Card initiative, immigration analysts argue that legislative backing may be necessary.

Additionally, the vetting process for applicants remains unclear. When asked whether the program would exclude individuals from US geopolitical rivals, such as China, Trump suggested that nationality alone would not determine eligibility but that strict selection criteria would be in place.

"We want to ensure that we accept people who love our country and are capable of contributing to it," Trump said.

Potential Impact on Indian Students

For Indian students in the US, the Gold Card could present both opportunities and challenges. While it offers an alternative path to long-term residency, the $5 million fee raises concerns about affordability. Critics argue that the program favors the financially elite rather than focusing on merit-based immigration reforms that could benefit skilled professionals from countries like India.

As discussions continue, the fate of Trump’s Gold Card initiative remains uncertain, with potential legal and political roadblocks still to be addressed.