I mean if you follow the law sure.
It's easy to either just pay them below market or hire them at a lower title than the role actually requires.
https://www.theregister.com/2024/04/09/h1b_visa_fraud/
https://www.epi.org/publication/new-evidence-widespread-wage...
So, it's more like saying "people speed and break traffic laws, therefore we're going to improve enforcement". Reasonable statement to me.
How many of these consulting companies just have the most awful, toxic company culture imaginable? I don't think that's a coincidence - that's a purposefully engineered cost saving strategy.
That said, consulting companies out of India are horrible, I don't think they'd be more productive even if they worked twice as hard.