The US last week raised the fee for H-1B visa from $2,000 to $4,000, while that for L-1 visa was increased from $2,250 to $4,500. H-1B and L-1, which are temporary, non-immigration visas, are highly sought after by information technology (IT) companies to send qualified personnel to the US.
Higher visa costs will hit outsourcers that have large exposure to US markets. Infosys and TCS would be the “worst affected”, according to IDFC Securities.
