Following President Trump’s executive order imposing additional fees on H-1B visas, Indian IT firms experienced a decline in their US-listed shares, with Infosys and Cognizant taking the biggest hit. Experts foresee immediate margin impacts, especially if the rule applies to existing visa holders, potentially reducing sector-wide EBITDA margins by 1% to 2%.
Commerce Minister Piyush Goyal is traveling to the US to advance discussions for a bilateral trade agreement after a recent meeting between officials from both countries. The focus is on finding solutions to existing tariffs and negotiating a deal that ensures India’s competitiveness.
Piyush Goyal launched integrated logistics plans to cut industry transaction costs, starting with a pilot program in eight cities. A guidebook on Harmonised System of Nomenclature (HSN) codes was introduced for systematic product categorization. The upgraded Logistics Data Bank (LDB) 2.0 offers real-time shipment tracking, enhancing visibility and planning.
PM Modi will inaugurate the Mahi-Banswara nuclear power project in Rajasthan, marking NTPC’s entry into the nuclear energy sector. The project, developed by Ashvini, a joint venture between NTPC and NPCIL, will feature four indigenously developed 700 MWe PHWRs. This initiative is part of the government’s plan to achieve 100 GW of nuclear power capacity…
The Indian government is engaging with the US administration and the IT sector to address the impending H-1B visa fee increase, set to take effect on September 21. This hike, potentially reaching $100,000, will disproportionately affect American companies heavily reliant on these visas for skilled workers.
Nasscom has voiced concerns over the US administration’s decision to hike H-1B visa fees to $100,000, potentially disrupting Indian tech companies and onshore projects. The organization also criticized the short implementation deadline, warning of uncertainty for businesses and professionals. This fee increase, coupled with proposed legislation, poses challenges for the Indian IT sector already navigating…
