New Delhi, Sep 20 US President Donald Trump’s decision to impose $100,000 annual fee on H-1B visa will chock innovation in America, while benefitting Indian IT and tech firms, former G20 Sherpa Amitabh Kant said on Saturday.
In a major setback for Indian tech professionals working in the United States and top tech companies, Trump has signed a proclamation to significantly curtail the H-1B visa programme.
“Donald Trump’s $100,000 H-1B fee will choke US innovation, and turbocharge India’s.
He further stated that India’s finest doctors, engineers, scientists and innovators have an opportunity to contribute to India’s growth and progress towards Viksit Bharat.
“America’s loss will be India’s gain,” he noted.
Entrepreneur and investor Kunal Bahl said that because of the new H1-B rules, a tremendous number of talented individuals are going to be headed back to India.
“It will no doubt be tough in the beginning to move base, but will work out for them given the tremendous opportunities in India,” he posted on X.
According to the proclamation, every application will now require a fee of $100,000 per year - an attempt to curtail the overuse of the visa programme and encourage hiring of domestic workers.
Signing the proclamation on Friday, at the White House, Trump said the “incentive is to hire American workers.”
“We need workers. We need great workers, and this pretty much ensures that,” Trump added.
Commerce Secretary Howard Lutnick also defended the move, saying the policy would discourage companies from hiring foreign workers.
President Trump also signed an executive order creating a gold card programme that would enable people to obtain a visa for $1 million and corporations for $2 million.
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