New Delhi (Sep 20): Shares of Infosys Limited and Wipro Limited, listed in the US as American Depositary Receipts (ADRs), fell by up to 4% on Friday night. This decline followed an executive order by US President Donald Trump, which increased the annual H-1B visa application fee from $1,000 to $100,000. Infosys ADRs dropped by 4%, while Wipro ADRs saw a 2% decline.

The H-1B visa application now requires a $100,000 fee, and failure to pay could lead to rejection by the US State Department. The sharp increase from $1,000 to $100,000 is seen as a move to effectively end the H-1B visa program, impacting not only Indian IT firms but also causing concern for American companies.GRECIILOOKS Shirts for Women – Korean Style Short Sleeve Oversized Button Down | Plus Size Workwear Top for Office & Casual Wear (Available in Plus Size)

While this development poses a significant challenge, it is not an existential threat to Indian IT companies. Those already holding H-1B visas in the US will not face immediate impacts or additional costs. North America remains a key market for Indian IT firms, contributing at least two-thirds of their revenue.

In India, shares of Infosys, TCS, Wipro, and other large-cap and mid-cap IT companies are expected to react to this development on Monday. The Nifty IT index performed well this week, with stocks rising between 1% and 3%.