Visa Fee Hike Sparks Uncertainty in Tech Sector
Nasscom has urged companies to facilitate the return of H-1B visa holders to the US amidst a fee hike deadline. The increase to $100,000 is expected to disrupt business continuity for Indian technology firms, impacting onshore projects and sparking broader concerns about implications for global innovation and job markets.
- Country:
- India
Nasscom has advised its member firms to ensure H-1B visa employees stranded outside the US return promptly. This advice comes as the visa fee spikes to $100,000, posing a significant challenge for overseas projects and disrupting business operations.
The sudden fee hike, enacted with a one-day deadline, threatens the seamless function of tech firms reliant on these visas for expertise. Nasscom's Vice President, Shivendra Singh, expressed concern over the lack of transition time, emphasizing the essential role these visas play in maintaining US and Indian tech operations.
The US move may reshape the landscape of the innovation ecosystem and job market, compounding existing pressures on the Indian IT sector amidst global uncertainties. Consultation with industry stakeholders is recommended to address potential ripple effects on the technology services sector.
- READ MORE ON:
- H-1B
- visa fee
- technology
- US
- India
- business continuity
- Nasscom
- innovation
- global impact
- IT sector
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