New Delhi: Former G20 Sherpa Amitabh Kant said on Saturday that US President Donald Trump’s decision to impose a $100,000 annual fee on H-1B visas will stifle innovation in the US, while benefiting Indian IT and technology companies.
This is a major blow to Indian tech professionals working in the US and at top tech companies. Trump has signed a proclamation to drastically cut the H-1B visa program. “Donald Trump’s $100,000 H-1B fee will stifle American innovation and stifle India’s growth,” Kant posted on the X social media platform. “By closing the door to global talent, the US is pushing the next wave of laboratories, patents, innovation, and startups to Bangalore, Hyderabad, Pune, and Gurgaon.” He further stated that India’s best doctors, engineers, scientists, and innovators have the opportunity to contribute to India’s growth and progress towards a developing India. He added, “America’s loss will be India’s gain.” Entrepreneur and investor Kunal Bahl said that due to the new H-1B rules, a large number of talented people will return to India.
He posted on X, “While it will be difficult to relocate initially, it will be worth it given the immense opportunities in India.”
According to the announcement, each applicant will now have to pay a fee of $100,000 per year. This is an effort to reduce overuse of the visa program and encourage the hiring of domestic workers. Signing the proclamation at the White House on Friday, Trump said, “The incentive is to hire American workers.”
Trump further said, “We need workers. We need excellent workers, and this is a very sure thing.”
Commerce Secretary Howard Lutnick also defended the move, saying that the policy would discourage companies from hiring foreign workers. President Trump also signed an executive order creating a Gold Card program. This will help individuals obtain visas for $1 million and corporations for $2 million.
