Visa worries drag IT stocks, analysts unwary of Trump’s comments
The 1990 H-1B visa program allows US employers to import up to 65,000 foreign workers with “highly specialized knowledge”. According to reports Trump may reduce the cap on H-1B visas or raise the fees or auction them. However, analysts say the threat may not spell much trouble for the sector as tech employment in the US is extremely low at 2-3 percent.
Last year, top 6 Indian IT had 16 percent share in new H-1B visas.