Citigroup: Higher H-1B visa fees are unlikely to harm India's IT competitiveness

A Citigroup investment research report stated that President Trump's executive order to impose a $100,000 visa fee on H-1B visa applications is unlikely to significantly harm the competitiveness of the Indian IT industry on a global scale. The organization mentioned that operating costs in the United States will increase, leading to possibly more nearshore and offshore outsourcing in the medium term. While profit margins for the Indian IT industry may decrease, their competitiveness will remain unaffected as business models continue to converge. Citigroup Investment Research also noted that IT companies like HCL Technologies and Infosys had earlier stated that a majority of their employees in the United States do not rely on visas, and companies with small exposure to the US market will be relatively less affected.