Trump’s H-1B Fee Hike Poses Risk to India Remittances, Rupee
The proposed hike in H-1B visa fees by the Trump administration poses a potential risk to India's economy, according to economists. The H-1B program is widely used by Indian tech professionals, and the increased fees could impact India's services sector and remittance inflows, which are a crucial source of foreign exchange for the country. This, in turn, could put downward pressure on the value of the Indian rupee. The article suggests that the move could have broader implications for India's economic stability, as the H-1B program is a significant contributor to the country's foreign exchange reserves and employment in the IT and related sectors. The article highlights the potential challenges facing India as it navigates the changing dynamics of the global workforce and trade policies.
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