Indian Equity Markets Open Lower After Trump’s H-1B Visa Shock Hits Indian IT Stocks

Indian equity markets opened lower on Monday, with the NSE Nifty50 and BSE Sensex dropping sharply. The decline was led by IT giants Infosys, Tata Consultancy Services (TCS), and HCLTech, which saw heavy selling after Washington’s decision to impose a steep hike on H-1B visa fees.

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Steep Visa Fee Hike

The Donald Trump administration raised the H-1B visa fee from the earlier range of $2,000–$5,000 to a staggering $100,000 (approx. ₹88 lakh). The move triggered panic among Indian professionals, many of whom feared they would be impacted immediately while returning to the US.

Clarification by US Authorities

Amid confusion, the US government clarified that the new fee structure would apply only to fresh H-1B applicants, not to existing visa holders. However, concerns remain as the policy aims to discourage American companies from hiring foreign talent.

Policy Intent Explained

US Commerce Secretary Howard Lutnick stated that the objective is to encourage companies to train and hire American graduates instead of relying on foreign workers. He explained that paying $100,000 per visa, along with salaries, would make hiring overseas professionals economically unviable.

Impact on Indian Professionals

Indians currently account for 71% of all approved H-1B applications, making them the most affected by the policy. The sudden hike could disrupt career plans, family life, and mobility for thousands of tech professionals working in the US.

India’s Diplomatic Response

New Delhi expressed concerns over the humanitarian fallout of the move. The Ministry of External Affairs (MEA) said the step could disrupt families and urged the US to address these issues. India also highlighted the importance of talent mobility for innovation, technology development, and economic growth in both nations.

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