IT shares from the likes of Tata Consultancy Providers (TCS) to Infosys will likely be in focus in Monday’s commerce on Dalal Avenue after the Donald Trump 2.0 administration introduced a big hike within the H-1B visa charge programme. The brand new visa charge of $100,000 (greater than Rs 88 lakh on the present foreign exchange fee) is relevant from Sunday, September 21.
The US administration later clarified that the brand new charge was solely relevant on contemporary purposes and never on current beneficiaries. Till now, the charge for H-1B purposes stood at $2,000-$5,000.
India is the largest beneficiary of H-1B visas. Yearly, seven out of each 10 H-1B visa holders change into Indians, in response to official figures.
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The most recent change is ready to extend the prices for Indian IT corporations, which depend on the US for the lion’s share of their revenues.
The rule change might impression features similar to margin and operational flexibility, say analysts.
Signing the proclamation, US President Donald Trump stated America is “going to have nice individuals coming in”, referring to the programme that’s essential for extremely expert Indian techies working within the US.
US cracks whip towards immigrants as soon as once more
Underneath Trump, the US authorities desires to make sure that individuals getting into the US to work are “truly very extremely expert”, stated the forty seventh American president.
The motion and the president’s remarks are aligned with Trump’s marketing campaign with a protectionist ‘America first’ coverage.
In one other blow to H-1B visa holders, Trump additionally plans to order the US Labour Secretary to revise the prevailing wage ranges underneath the programme.
ALSO READ: A short historical past of H-1B visa programme—From launch in 1990 to developments in 2025
Three key takeaways from the White Home’s H-1B charge hike order:
- Proclamation to limit the entry of sure H-1B aliens within the US as non-immigrant employees
- Entry restricted underneath H-1B visa programme until accompanied by fee
- H-1B pathway abuse has displaced American employees: Trump
The White Home stated that American employees are being changed with lower-paid international labour, creating an financial and nationwide safety menace to the US.
The Trump administration stated that the $1,00,000 charge is geared toward guaranteeing that the individuals being introduced into the nation are “truly very extremely expert” and don’t exchange American employees.
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