H-1B Visa News Highlights: Markets to open flat, Indian IT stocks fall for the 3rd day amid Trump's $100,000 visa fee

India's equity benchmarks, which have logged four straight sessions of losses, are likely to open little changed on Thursday as concerns over foreign outflows and US visa curbs could keep investors cautious.

Gift Nifty futures were trading at 25,071 points as of 07:18 a.m. IST, indicating that the benchmark Nifty 50 will open near Wednesday's close of 25,056.9.

The 50-stock index has lost 1.4% in the last four sessions.

The Trump administration's plan to dramatically raise fees for H-1B visas is drawing concern from US healthcare groups who say the move could worsen staffing shortages as more than half of healthcare workers consider changing jobs within the next year, Reuters reported

In a scathing attack on the government, the Congress on Wednesday claimed that it has caused the "collapse" of India's foreign policy and Prime Minister Narendra Modi's "huglomacy" has backfired, leaving the country "diplomatically isolated" and unable to secure its national interests.

In the backdrop of Trump administration's imposition of high tariff on India and actions on H-1B visa, Congress leader Rahul Gandhi on Wednesday slammed Prime Minister Narendra Modi and said foreign policy is not conducted on the basis of personal friendships, as per a report by PTI quoting sources.

“Immigration has always been and will continue to be a very politically charged topic,” said Paul Argenti, professor of corporate communication at Dartmouth College’s Tuck School of Business. “Wading into these waters carries incredible reputational risk, which is why companies don’t do it.”

(Bloomberg)

Businesses are taking a cautious “wait-and-see” approach to avoid drawing the ire of the Trump administration, according to Kathryn Wylde, CEO of the Partnership for New York City.

Wylde said the president has left the business community “spooked” over any public criticism of his policies. She noted that the concern extends beyond immediate costs, highlighting broader uncertainties about the United States’ role in the global economy.

(Bloomberg)

H-1B Visa News LIVE: Amid a hike in the H-1B visa fee, which is likely to impact Indian nationals the most, JPMorgan CEO Jamie Dimon stated that the US ought to be India's best friend, regardless of its non-alignment stance.

"India is a great friend of America. I know it is non-aligned, and it should stay non-aligned, but with that non-alignment, we should be their best friend," CNBC-TV18 quoted Dimon as saying on the sidelines of the bank's 10th Annual India Conference.

H-1B Visa News LIVE: One of the most affected industries by the visa fee hike is Information Technology (IT) as tech workers make up one of the largest groups of H-1B visa recipients. Stem (science, technology, engineering and mathematics) industries rely heavily on the H-1B program to employ skilled foreign workers. Around two-thirds of H-1B jobs in STEM are in computer-related roles.

H-1B Visa News LIVE: Trump said in the proclamation, “the H-1B nonimmigrant visa programme was created to bring temporary workers into the United States to perform additive, high-skilled functions, but it has been deliberately exploited to replace, rather than supplement, American workers with lower-paid, lower-skilled labour."

H-1B Visa News LIVE: Under Project Firewall, employers are required to prioritise hiring qualified Americans and will face accountability if they misuse the H-1B visa process.

H-1B Visa News LIVE: Former Nasscom Chairman BVR Mohan Reddy told PTI that US President Donald Trump’s decision to raise the H1-B visa fee to $ 1,00,000 annually presents substantial cost challenges for Indian IT companies and is likely to cause disruptions in the short term. He also mentioned that this move could encourage Indian IT firms to speed up local hiring in the US.

H-1B Visa News LIVE: The initial registration period for the 2027 financial year H-1B cap is likely to open around March next year. Last year, there was a $215 H-1B registration fee for each registration submitted on behalf of each beneficiary.

H-1B Visa News LIVE: On Wednesday, IT stocks declined for the third consecutive day as the sharp increase in US H-1B visa fees continues to impact investor confidence, reported PTI. Mastek Ltd shares fell by 3.42%, Infobeans Technologies decreased by 3.41%, Wipro by 2.06%, Tech Mahindra by 1.30%, Tata Consultancy Services by 0.86%, and Infosys by 0.24% on the BSE.

H-1B Visa News LIVE: The United States grants 85,000 H-1B visas annually through a lottery system. India accounts for roughly three-quarters of the recipients. Major technology companies depend on Indian workers who either relocate to the United States or move frequently between the two countries.

H-1B Visa News LIVE: PM Modi said, “Today, India is moving forward with the spirit of 'Vishwabandhu'. Duniya mein koi hamara bada dushman nahi hai. Agar hamara koi dushman hai toh woh hai dusre deshon par hamari nirbharta (We have no major enemy in the world. Our biggest enemy is our dependence on other countries)."

“This is our biggest enemy, and together we must defeat this enemy of India, the enemy of dependence. We must always reiterate this,” PM Modi said.

H-1B Visa News LIVE: The White House clarified via social media that the fee is only for new applicants and does not affect current visa holders' ability to travel to or from the United States.

H-1B Visa News LIVE: The Trump administration's proposal to significantly increase H-1B visa fees has raised concerns among US healthcare organisations, warning that this could lead to staffing shortages as over half of healthcare workers are contemplating changing jobs within the next year, reported Reuters.

H-1B Visa News LIVE: Gautam Mukunda, a Yale scholar criticized the fee hike, arguing it jeopardises America's advantage in attracting top talent from around the world, particularly IIT graduates from India, who are in high demand in other countries. Read here

H-1B Visa News LIVE: California Attorney General Rob Bonta said the H-1B visa changes will have an "adverse impact' on California, which has relied on the visa program for years to help drive innovation, reported Bloomberg.

H-1B Visa News LIVE: Attorney General Rob Bonta criticised the Trump administration for implementing a $100,000 application fee for the popular H-1B visa program for skilled workers. He stated that this fee causes “uncertainty and unpredictability”, news agency Bloomberg reported.