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US President Donald Trump’s move to levy higher fees for granting the H-1B visas will impact Indian IT majors’ profit margins by only 0.20%, an arm of a domestic rating agency said on Thursday.
This is because the reliance of IT companies on H-1B visas has been reducing since 2018, when the denial rates for the visa applications increased to 24%, Crisil Intelligence said.
“The US decision to impose a $100,000 fee on new H-1B visas for foreign workers will snip just 10-20 basis points from the operating margins of Indian information technology (IT)…
