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I think you slightly mis-understood me. While I think that 70,000 is a "technically" possible, but "not probable" number, I DO NOT subscribe to the view that it will take unimaginably long to get our approvals. In fact, just the opposite. We will get our approvals just like we are getting now, as the PD moves forward. the only thing that needs to be kept in mind is that due to the present legislations that are in effect, there is a very large increase in the number of H-1Bs entering the country - in fact more than 100,000, while about 4 years back, the annual quota of 65,000 was not getting used up. It might be a prudent guess that, on an average, each H-1 (who is applying for a GC) will be applying for their (H-4) spouse too. That will use up 2 immigrant visa(s)/GC(s). So, with the number of IMMIGRANT VISAs per country remaining the same, it is likely that we are going to see an increase in the waiting time for GCs, in the case of over-subscribed countries. Since the number of H-1Bs has (almost) doubled for 3 years now, it is possible that this increase in waiting time can become substantial (and painful & complicated, due to mergers, acquisitions, etc). Since (I think) that India is sending the maximum number of H-1Bs, it could be have the worst effect on applicants chargeable to India.
The above was what I really meant, when I first posted my comment to the original posting. Consider this scenario. You are an EB-3 applicant (chargeable to India) who has a PD of 0ct 01, 1998, and belonging to the Eastern region. I know for a fact that Philadelphia DOL was very efficeint around that time (end of 1998). Your LC was approved in Mar, 1999 and your I-140 was approved in Jun 1999. All of a sudden the PDs for applying for I-485 becomes current in Aug, 1999 and you apply for the same. I am from the above region, and please understand that I have friends who have done this - and that too regular non-RIR EB-3 applicants, chargeable to India, even though I myself have a PD of OCT 01, 1996. Now that the PDs have gone way back, you have no way of getting a GC in the near future, unless the PDs JUMP forward once again. With the increase in the number of people applying for their GCs, it is only logical that PD movement will be slow, considering the fact that the number of Immigrant visas per year has not been increased.....
I hope I am making myself very clear, but I would like to know what you think on the same, so please comment.....