India has expressed concerns over the potential humanitarian consequences of the Trump administration's new restrictions on the H1B visa program, particularly the disruption to families. The government hopes the US authorities will address these issues.
India is a global leader in software development services, IT enabled services, knowledge process outsourcing services and contract R&D services relating to software development, Sitharaman said noting these business segments are quite inter-connected with each other.
Among Sensex firms, Trent, Power Grid, Tata Motors, Tata Consultancy Services, Asian Paints, NTPC, Adani Ports and Bajaj Finance were the laggards. However, Bharat Electronics, Axis Bank and Bharti Airtel were the major gainers.
India's $280-billion IT industry heads into 2026, balancing visa-related headwinds and global trade uncertainty against its biggest-ever push into artificial intelligence and the rapid expansion of global capability centres (GCCs). Heightened scrutiny of the US H-1B visa programme - including a proposed $100,000 fee for new visas and concerns over a potential 25 per cent outsourcing tax - has complicated cross-border delivery for Indian firms, even as companies accelerate efforts to reduce reliance on onsite staffing.
The White House mentioned that American companies are replacing US workers with H-1B workers.
Among Sensex firms, Trent, Tech Mahindra, Hindustan Unilever, UltraTech Cement, Asian Paints, Eternal and ITC were the major laggards. Selling in HDFC Bank and ICICI Bank also dragged the key indices. However, Axis Bank, Bajaj Finance, Maruti and State Bank of India were among the gainers.
If the Indian government is indeed serious about reversing brain drain, it needs to put much more emphasis on research and innovation, especially in areas that will determine the future, asserts Prosenjit Datta.
The fee hike for the US H-1B visa by the Donald Trump administration has no short-term impact on Tata Technologies Ltd, although it will change resourcing plans for the future, according to its CEO and managing director, Warren Harris.
Among Sensex firms, Tata Motors, Bharat Electronics, UltraTech Cement, Tech Mahindra, Mahindra & Mahindra, ICICI Bank, Tata Consultancy Services and Axis Bank were the major laggards. However, Power Grid, Hindustan Unilever, NTPC and HCL Tech were among the gainers.
IT stocks dropped in morning trade on Monday, with Tech Mahindra tumbling over 6 per cent, amid concerns over the steep hike in US H-1B visa fees. Shares of Tech Mahindra tumbled 6.45 per cent, LTI Mindtree slumped 5.61 per cent, Persistent Systems dropped 5.51 per cent, Hexaware Technologies tanked 5.14 per cent and HCL Tech fell by 4.24 per cent on the BSE.
The decision to hike US H-1B visa application fee to $100,000, trade talks and the GST rate cut will be the key drivers for stock market movement this week, analysts said.
Immigration attorneys and companies are advising H-1B visa holders to return to the US immediately due to concerns over President Trump's plan to impose a USD 100,000 fee on the work visas.
Researches reveal that many firms that employ H-1B workers directly, including some of the biggest names in the technology industry such as Amazon, Google, Microsoft, Apple, Qualcomm, Salesforce and Uber, pay a large share of their H-1B workers at one of the two lowest wage levels, Level 1 or Level 2.
The US Citizenship and Immigration Services has received only half the 65,000 H1-B applications it requires to fill up the general quota category in the first five day after it began receiving applications April 1.
The United States Citizenship and Immigration Services has announced that it has reached the cap on Congressionally mandated 65,000 H-1B work visas, the most sought after by Indian professionals.
The mandated Congressional cap is of 65,000.
The lawsuit has been filed by American Immigration Council and American Immigration Lawyers Association.
US H1-B visa cap reached within 5 days for 3rd straight year.
Indian tech firms like TCS, Wipro and Infosys have seen slower recruitment since the first quarter of 2008.
This will be exacerbated by the falling number of masters and PhD holders in science and engineering, restrictions on cross-border movement of IT professionals and the US H-1B visa programme.
In a statement, US Customs and Immigration Services announced that it has received a sufficient number of H-1B petitions to reach the statutory cap for fiscal year 2011.
Until May 14, the USCIS had received 19,000 petitions in the general category and 8,100 in the advanced degree category.
In the wake of the economic crisis, there has been a sharp drop in H-1B work visa applications from major Indian IT companies.
TCS is hiring from over a hundred engineering campuses, MBA graduates from top B-schools in the US
H1-B holders in the US can rest assured that changes are soon coming which will bring both simplicity and certainty to your stay, including a potential path to citizenship: Trump.
The broader NSE Nifty index too finished lower by 4.80 points, or 0.05 per cent, at 10,632.20.
The broader NSE index has fallen about 0.9% as investors wait for corporate results
External Affairs Minister Salman Khurshid on Tuesday said his ministry is contemplating a plan to have people from industry on-board to facilitate on issues relating to economic diplomacy.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances