New Delhi, Sept. 20 -- US President Donald Trump signed an executive order on Friday, September 19, raising the annual fee for H-1B visas to $100,000 to encourage companies to prioritise hiring American workers, allowing the hiring of "highly skilled foreign workers" in specialised fields.

The H-1B visa fee, which was previously around a thousand dollars, is now increased to $100,000, a move that would impact employers across different sectors, specifically the Information Technology (IT) industry.

The IT companies who were heavily relied on the H-1B program to hire foreign workers will be significantly impacted by the fee hike as their expenses to bring in new employees from foreign countries will also rise. The visa fees are typically...