President Donald Trump announced a $100,000 one-time fee on new H-1B visa petitions filed after September 21, 2025, targeting outsourcing firms to prioritize high-value hires while sparing existing visa holders.
The policy triggered a plunge in the Indian rupee to a record low of 88.76 against the dollar and a 2-3% drop in the Nifty IT index, erasing over $5 billion in market value for companies like Infosys and Wipro. Indian experts such as IIT Madras Director V. Kamakoti see potential benefits, viewing the fee as a catalyst for domestic innovation and reduced U.S. visa reliance amid emerging global talent programs in China and elsewhere.
Meanwhile, the Indian rupee hit a record low of 88.76 against the US dollar.
