New Delhi: Indian IT stocks tumbled today after the Trump administration announced a steep hike in H-1B visa fees. The NSE Nifty50 and BSE Sensex opened in the red, with Infosys, TCS, and HCLTech seeing sharp losses.
The fee for H-1B visas, previously $2,000–$5,000, jumped to $100,000 (around Rs 88 lakh). This move targets new applicants only. It aims to discourage companies from hiring foreign workers, especially in the tech sector.
Commerce Secretary Howard Lutnick explained that companies would now face high costs for training foreign employees. The goal is to encourage firms to hire and train American workers instead. Currently, Indians account for 71% of all approved H-1B applicants.
The Indian government warned that the new rules could disrupt families and hoped the US would address these concerns. The Ministry of External Affairs said both countries benefit from skilled talent exchanges and innovation, and policymakers will consider mutual interests while assessing the impact.
Industry experts fear that this policy may affect technology growth, innovation, and economic ties between India and the US. Many professionals expressed concern about their careers and future opportunities in the US.
