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H1-B visa suspension to cost Indian IT firms ₹1,200 cr: CRISIL
short by Anushka Dixit / on Monday, 6 July, 2020
US' decision to suspend H1-B visas will cost Indian IT firms ₹1,200 crore and have a marginal 0.25%-0.30% impact on profitability, CRISIL said. Latest H1-B visa issuances contribute less than 5% of US onshore workforce of the top 5 listed Indian IT firms. US President Donald Trump has suspended H1-B visas till 2020 end to open jobs for local workers.
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