New Delhi, Sept. 20 -- Indian IT firms faced a major jolt as U.S. President Donald Trump yesterday signed an order requiring a fee of USD 100,000 per year for companies seeking to sponsor H-1B working visas.
The current H-1B visa fee varies between USD 1,700 and USD 4,500. This also depends on size of employer.
This development showed early signs of investor anxiety on NASDAQ where Indian IT stocks witnessed bearish move throughout the trading session. Shares of Cognizant witnessed a fall of about 4.73 pc. Moreover, shares of Accenture and Infosys also witnessed a fall.
Yesterday, Donald Trump signed a proclamation titled "Restriction on entry of certain non-immigrant workers," stating that misuse of the H-1B visa is a "national security...