Reported 1 day ago
Indian IT companies experienced a sharp drop in their stock prices following the announcement of a $100,000 fee for new H-1B visa applications by U.S. President Donald Trump. This move is seen as detrimental to the sector, which heavily relies on U.S. work visas, as it is expected to cut into profit margins and earnings. Analysts predict that local hiring in the U.S. and other countries may increase in response to these changes, although Indian firms have already reduced their dependency on H-1B visas over the years.
Source: YAHOO