India says US H-1B visa fee hike could hit services exports, remittance
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The H-1B visa is widely used by Indian information technology companies.
PHOTO: REUTERS
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NEW DELHI – India on Sept 26 said that the US’ decision to impose a one-time US$100,000 (S$130,000) fee on future H-1B visa applications
The near-term impact is expected to be manageable, but the impact of prolonged restrictions will need close monitoring, particularly as alternative export markets are still developing, according to the Finance Ministry’s monthly economic report.
The move adds to broader trade uncertainties that have already weighed on India’s goods exports. Tariff-related risks continue to pose challenges, with potential spillovers into the domestic employment, income and consumption, the report said.
The economic report said inflation was expected to stay under control as replenished reservoirs are likely to support the upcoming winter crop.
Recent cuts in consumption tax rates may lead to a one-time reduction in inflation over the next year, it said. REUTERS
