Mumbai: Indian IT stocks lost around Rs 63,000 crore after the US announced a steep H-1B visa fee hike. Shares of top firms, including TCS, Infosys, HCL Tech, Wipro, LTIMindtree, Tech Mahindra, and Persistent Systems, fell up to 6% on Monday.
TCS, India’s largest IT company, fell to Rs 3,063 before recovering slightly to Rs 3,104, down 2.07%. Infosys dropped 1.88% to Rs 1,511. Wipro, HCL Tech, and other IT firms also fell 1.5–3%.
Analysts said the impact is manageable. The White House clarified the $100,000 fee applies only to new applicants. Most of the effect is expected in FY27. Many IT companies, including Coforge and Persistent Systems, said margins would be minimally affected.
Experts noted that Indian IT firms now rely less on US visas because they use more offshore work and local hiring. Firms with lower US exposure, like TCS and Coforge, are better positioned to absorb the change. Nearshoring, offshoring, and limiting H-1B hires to critical roles will help reduce costs.
