Indian Tech Stocks Set for Worst Week Since April on H-1B Woes

The Indian technology sector is facing a challenging week, with software exporters' shares poised for their worst performance since April. This slump is primarily driven by concerns over a significant increase in the H-1B visa fee, which is expected to negatively impact the earnings of these companies. The H-1B visa program, which allows US companies to temporarily employ foreign workers in specialty occupations, has been a crucial tool for Indian IT firms to access skilled talent. However, the proposed hike in visa fees threatens to increase the operational costs for these companies, potentially eroding their profit margins. Investors are closely monitoring the situation, as the potential impact on the earnings of major Indian tech firms is causing widespread unease in the market. The article highlights the importance of the H-1B visa program for the Indian software industry and the challenges it faces in navigating the changing regulatory landscape.