The $100000 H-1B visa jolt and an even bigger shock that could be in store

The Indian IT industry entered a fresh hellscape last week.

Citing misuse and tech layoffs among locals in the US, Washington decided to wield a wrecking bar by raising the H-1B visa fee by 50x, from just about $2,000 to $100,000.

Historically, H-1B visas have always been a lightning rod for the Indian IT sector. But the staggering increase in fee confirmed that the price-arbitrage party was well over. The move, ironically, coincided with Prime Minister Narendra Modi's 'bachat Utsav', urging price-conscious Indians to favour swadeshi products and drive demand.

Of the 11 temporary US worker visa categories, H-1B is the widely accessed non-immigrant visa and India happens to be its largest beneficiary, accounting for over 70% every year, which is roughly three-quarters of all approved vis