"Donald Trump's move to curtail H-1B visas threatens to rewrite the rules for one of India's biggest business success stories, a decades-old model that's grown into a $280 billion industry and underpins much of the technology behind the world's largest corporations. The US president's order on Friday which requires a $100,000 fee for H-1B applications will force a rethink at Indian outsourcers led by Tata Consultancy Services Ltd. and Infosys Ltd.,"
"The abrupt move a response in part to accusations of abuse forces Prime Minister Narendra Modi to once again deal with the fallout from America First policies. Companies from TCS to Wipro Ltd. have been hailed as a touchstone of Indian technological achievement, helping create high-skilled jobs for the world's most populous economy since the idea of outsourced information technology gained currency around the 1990s."
President Trump ordered a $100,000 fee for H-1B applications, significantly changing visa costs for employers. The fee will force major Indian outsourcing firms such as Tata Consultancy Services and Infosys to rethink use of H-1B visas that deploy tens of thousands of engineers to American clients. Indian IT exporters contribute about $280 billion to the economy and underpin technology at large US corporations. The move has already depressed Indian IT share prices and adds pressure amid existing geopolitical and economic uncertainty and IT cutbacks. The policy has increased strain on India-US relations and complicates upcoming trade negotiations.
Read at www.mercurynews.com
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