H-1B woes in the US are racking up big bills for India’s IT majors.
With the Donald Trump administration tightening the noose around visa clearances, Indian outsourcing companies are being forced to recruit local talent in the US. But that will come at a massive cost. “…we foresee a rise in local hiring in (the) US, payment of higher wages, which will take a hit on the margins of IT majors,” a recent report by credit ratings firm CARE said.