H-1B visa fee hike may hit India’s services sector, remittance inflow

US President Donald Trump's steep hike in H-IB visa fees could hurt India’s services sector, curb remittance inflow, and weigh on the rupee, economists said.

- Bloomberg

Last week, Trump ordered a sweeping overhaul of the visa programme, mandating a $100,000 application fee aimed at deterring excessive use. India is especially vulnerable to these changes, as roughly 70% of H-IB visa holders in the US are Indian — many employed through Indian IT firms.

Highly skilled Indian migrants in wealthy nations are a vital source of cash for the country, steadily increasing the money they send home over the years. The US alone provides nearly 28% of these inflows — roughly $35 billion year, Citigroup Inc. economists, including India economist Samiran Chakraborty, estimated.