In a significant development, President Donald Trump has announced a $100,000 annual fee for new H-1B visa applications, effective from September 21, 2025. This move has sent ripples through the Indian tech industry, which heavily relies on the H-1B program to deploy skilled professionals to the United States. Notably, over 70% of H-1B beneficiaries are Indian nationals, underscoring the deep ties between India's IT sector and the U.S.
The immediate impact was evident as Indian IT stocks plummeted. The Nifty IT index dropped by 2.7%, with major firms like Tata Consultancy Services (TCS), Infosys, and Wipro witnessing declines. Persistent Systems experienced the steepest fall, down 4%. This
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