BENGALURU >> India’s $283 billion information technology sector will have to overhaul its decades-old strategy of rotating skilled talent into U.S. projects following President Donald Trump’s move to impose a $100,000 fee for new H-1B visas from Sunday, according to tech veterans, analysts, lawyers and economists.
The sector, which earns about 57% of its total revenue from the U.S. market, has long gained from U.S. work visa programs and the outsourcing of software and business services — a contentious issue for many Americans who have lost jobs to cheaper workers in India.
India was by far the largest beneficiary of H-1B visas last year, accounting for 71% of approved beneficiaries, while China was a distant second at 11.7%, according to U.S. government data.
Trump’s move to reshape th