TECH THAT: A JPMorgan Chase office in Mumbai NEW DELHI/BENGALURU: Even though President Trump’s $10,000 H-1B bomb — if it survives legal challenges — is bound to drive up operational costs for tech firms, Fortune 500 companies and global multinationals are accelerating their bets on India. If companies cannot get Indians to work in the […]
$100k fees imposed to obtain H1-B visa: Indian tech stocks take hit in US
Indian IT firm’s US-listed shares fell overnight following American President Donald Trump’s executive order slapping an additional fee on H-1B visa holders. Infosys ADRs dropped 4%, while Wipro slipped 2% on Friday.Nasdaq-listed Cognizant declined 4.7% on Friday, reflecting investor concerns over stricter immigration policies. Experts warn of an immediate impact on profit margins. “The immediate […]
Fares to US soar while desperate flyers try to deboard at American airports
NEW DELHI/BENGALURU: The panic was real. US work visa holders already in India were scrambling to get tickets back to the US to beat the sudden announcement by President Donald Trump of a Sept 21, 12 am EDT (9.30am IST) deadline for a $100,000 fee per H-1B worker, while there were many claims on social […]
Government rushes to make GCCs absorb highly skilled workers from US
NEW DELHI: Over 5 lakh Indians could be hit by the Trump administration’s decision to impose a hefty $100,000 fee on H-1B visas, prompting India’s IT ministry to go into mission mode. The ministry has begun coordination with the Indian embassy in Washington DC and is working to ease the entry of Global Capability Centres […]
Visa hike to choke US innovation, help India: Ex-G20 Sherpa Kant
New Delhi: The decision to hike H-1B visa fees will choke US innovation and boost India’s, former G20 Sherpa Amitabh Kant said Saturday. “By slamming the door on global talent, America pushes the next wave of labs, patents, innovation and startups to Bengaluru, Hyderabad, Pune, Gurgaon,” he wrote on X.“India’s finest doctors, engineers, scientists and […]
$100k H1-B visa fee: Not annual, says Donald Trump official; issues 3-point clarification for existing holders & new applicants
Trump signed the order raising H1-B visa application fees to $100,000 The recently announced $100,000 H-1B visa fee will apply only to new visa applications and is not an annual charge, the White House press secretary clarified on Saturday. The announcement comes after widespread confusion and concern over the implications of a presidential proclamation issued […]
‘Americans to control TikTok US board’: White House on proposed China deal; agreement expected soon
A proposed US-China agreement on TikTok would give Americans a majority on a board overseeing the app’s US operations, the White House said Saturday. “Americans will control six of the seven seats for a planned board,” White House press secretary Karoline Leavitt told Fox News, according to the Associated Press.Leavitt added, “We are 100 per […]
Logistics overhaul: Piyush Goyal launches plans for 8 cities spanning states; aims to cut costs for industry
Commerce and industry minister Piyush Goyal on Saturday unveiled a set of integrated logistics plans aimed at reducing transaction cost of industry.The pilot programme has started in eight cities across eight states and is designed to review existing logistics infrastructure, spot gaps, and provide a roadmap for improving efficiency and reducing costs, the ministry said.Goyal […]
GST 2.0 impact: Companies rush to hire temporary staff; rate cuts expected to boost festive buying
Companies across consumer electronics, e-commerce, automobiles, retail, logistics, and FMCG are rushing to hire temporary staff as India’s festive season kicks off, following reduced GST rates from September 22. Industry experts say many shoppers had postponed purchases earlier this season, which dented sales, but with firms passing on GST cuts through price reductions, buyers are […]
H-1B visa fee hike: India in talks with US, IT bodies, says report; American companies to be hit harder
The government is in discussions with the US administration and the IT industry over the sharp hike in H-1B visa fees, set to take effect on 21 September.American companies will end up getting even a harder hit after the announcement, being primary users of these visas to bring in high skilled workers, sources told PTI […]