How US's H-1B visa changes could impact Indian economy
The US has recently announced big changes to its H-1B visa program, including a hefty $100,000 fee for new visas and a new selection process that favors higher-paid, highly skilled workers.
According to a recent Barclays report, this will likely lead to a small dip in money sent home by Indians working in the US—remittances could drop by up to $5 billion, but the overall impact is expected to be pretty limited.
IT exports to remain strong
While these changes might make it tougher for some Indian professionals to land jobs in the US, countries like Germany and Canada have started showing interest in attracting highly-skilled Indian talent.
On the bright side, India's IT exports aren't taking a hit—62% still go to the US, with global capability centers run by American companies in India expected to strengthen services exports.
So even with fewer H-1B jobs on offer, the tech sector at home is staying strong.