Trump's Visa Move Sparks IT Sector Shakeup
U.S. President Trump's new $100,000 fee on H-1B visas impacts India's $283 billion IT sector, forcing firms to reconsider strategies. Companies are expected to prioritize offshore projects and hire more U.S. nationals while the policy spurs growth in Global Capability Centers (GCCs) worldwide.
The recent decision by U.S. President Donald Trump to impose a $100,000 fee on new H-1B visas is causing turbulence in India's $283 billion IT sector. This move threatens a decades-old strategy of rotating skilled talent into U.S. projects, analysts and industry experts warn.
India, which earns 57% of its IT revenue from the U.S. market, has historically benefited from such visa programs. However, Trump's strategy demands a reevaluation, urging companies like Apple and Microsoft to escalate offshore initiatives and increase hiring of U.S. citizens and green card holders.
The IT industry anticipates this regulation will amplify Global Capability Centers (GCCs), transforming them from mere back offices to innovation hubs. Meanwhile, the legal community gears up for potential challenges, as many question the sustainability and fairness of these new visa fees.
(With inputs from agencies.)
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