New restrictions on H-1B visas in the US are not expected to greatly affect the money sent back to India by workers overseas, according to a report from Barclays.

As reported by TOI, the losses are estimated to be under $5 billion, a small portion of the total $83 billion in remittances.

The rise of global capability centres, many of which are US-based, will continue to increase India’s services exports instead of slowing them down.

What is the new $100k H-1B proclamation?

US President Donald Trump recently announced major changes to the H-1B visa programme: a $100,000 one-time fee for new visas and a wage-based selection process. Under the new rules, higher-skilled and higher-paid applicants will be mostly considered in the selection process.

What does the report indicate?

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