India, Sept. 20 -- US President Donald Trump on Friday signed a proclamation restricting the entry of H-1B visa holders and raising the application fee to a whopping $100,000, a move that could significantly impact Indian employees.

H-1B visas are meant to bring foreigners for high-skilled jobs that tech companies find difficult to fill with qualified American citizens and permanent residents. Now, companies who apply to bring in workers from other countries on this visa will have to fulfill the $100,000 per visa payment annually.

US Commerce Secretary Howard Lutnick said the fee will be $100,000 per year, adding that "all big companies" are on board with the new plan. He said that in some cases, companies are going to pay a lot of mone...