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U.S. changed high-skilled H1-visas

by - 03/07/2017

"U.S. change high-skilled H1-visas"

Trump is planning to make changes to the H-1B visa program that allows skilled foreigners to work in the U.S.
Shares in Tata Consultancy Services (TCS), India's biggest private sector employer, plunged more than 5% on Mumbai's stock exchange, while other top firms like Infosys (INFY) and Wipro (WIT) fell by more than 4%.

TCS and Infosys declined to comment.
Wipro did not respond to requests for comment.
India's vast outsourcing industry employs millions of people. Its business in the U.S., where it provides engineering and other tech services to firms such as IBM (IBM, Tech30), Microsoft (MSFT, Tech30) and Citibank (C), is highly dependent on the H-1B visa.The U.S. is worth about $65 billion to India's tech industry. Indian media warned of a major setback ahead.

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