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BENGALURU/HYDERABAD: Donald Trump's H-1B visa crackdown will hasten U.S. firms' shift of critical work to India, turbocharging the growth of global capability centres (GCCs) that handle operations from finance to research and development, economists and industry insiders say. The world's fifth-largest economy is home to 1,700 GCCs, or more than half the global tally, having outgrown its tech support origins to become a hub of high-value innovation in areas from design of luxury car dashboards t ...Read More >
MUMBAI, Sept 30 (Reuters) - The Indian rupee posted its fifth consecutive monthly fall against the U.S. dollar, and hit a record low on Tuesday, as trade tensions between India and the United States escalated, pushing up dollar demand. The rupee settled at 88.7875 against the U.S. dollar, its weakest ever closing level, and down slightly from its close of 88.7600 on Monday. Earlier in the day, the currency declined to an all-time low of 88.8000. The currency fell 0.7% in September, posting it ...Read More >
Mumbai, September 29: TCS layoffs have become a major talking point in the tech community since CEO K Krithivasan announced cutting 2% of the company's workforce. Previously, it was reported that around 12,000 employees had been laid off by the IT major in India; however, according to new reports, the tech sector has been facing several other issues globally, such as the H-1B visa fee hike by US President Donald Trump and the rise of artificial intelligence. Meanwhile, IT unions and other parti ...Read More >
Mumbai, September 29: Indian legend Sunil Gavaskar revealed that his heart had been pounding intensely while watching the Asia Cup 2025 final between India and Pakistan at Dubai International Cricket Stadium. The Men in Blue secured a convincing victory as they chased down a target of 147 runs with just two balls remaining, in what was a thrilling encounter. The win also marked India's third consecutive victory against Pakistan in the 2025 tournament, as well as the team's record-extending ninth ...Read More >
New York: Indian tech workers holding H-1B visas have become the target of a racist online campaign coordinated on far-right forums such as 4chan. The campaign, dubbed "Clog the Toilet", reportedly seeks to disrupt flight bookings for Indians returning to the United States after vacationing in India. The tactic involves reserving multiple seats on India-US flights and initiating the checkout process without completing payment. By repeatedly doing so, the campaigners temporarily block genuine pa ...Read More >
New Delhi, India -- Meghna Gupta* had planned it all - a master's degree by 23, a few years of working in India, and then a move to the United States before she turned 30 to eventually settle there. So, she clocked countless hours at the Hyderabad office of Tata Consultancy Services (TCS), India's largest IT firm and a driver of the country's emergence as the global outsourcing powerhouse in the sector. She waited to get to the promotion that would mean a stint on California's West Coast. Now, ...Read More >
MUMBAI (Reuters) -The Indian rupee, under persistent pressure in recent sessions, is expected to find relief at Monday's open, lifted by a broad rally in Asian peers. The 1-month non-deliverable forward indicated the rupee will open in the 88.62-88.64 range versus the U.S. dollar, compared with 88.7175 in the previous session. The Indian currency shed 0.7% last week, sinking to an all-time low of 88.7975, with the U.S. H1-B visa fee increase adding to bearishness. Without the Reserve Bank of I ...Read More >
For the month, FII sold equities worth Rs 30,141.68 crore, while DII bought equities worth Rs 55,736.09 crore. The broader indices broke a three-week gaining streak and underperformed the main indices as markets remained under pressure throughout the week on worries over fresh tariffs on pharma, higher visa fees by the US, persistent trade concerns, and continued FII selling. For the week, Nifty50 plunged 672.35 points or 2.65 percent to finish at 24,654.70, while the BSE Sensex index declined ...Read More >
Mumbai: Benchmark stock indices Sensex and Nifty tumbled nearly one per cent on Friday, marking their sixth consecutive day of decline, following heavy selling in pharma and IT shares as US President Donald Trump announced 100 per cent duties on branded drugs from next month. The 30-share BSE Sensex tanked 733.22 points or 0.90 per cent to settle at a three-week low of 80,426.46. During the day, it dropped 827.27 points or one per cent to 80,332.41 points. The 50-share NSE Nifty tumbled 236.15 p ...Read More >
Mumbai, Sep 26 (SocialNews.XYZ) The Indian equity benchmarks ended this week with the steepest weekly decline in six months, as well as registering a sixth consecutive session of decline -- amid concerns over H-1B visa fee hike and US pharma tariffs. Nifty and Sensex ended with a decline of around 2.50 per cent and 2.54 per cent, respectively, even as IT and pharma sectors came under selling pressure. Midcap and small-cap indices witnessed even higher selling pressure due to stretched valuatio ...Read More >
NEW DELHI, Sept 26 (Reuters) - India said on Friday its officials held "constructive" talks with U.S. counterparts during a visit to Washington this week, and both sides agreed to continue discussions aimed at concluding a mutually beneficial trade deal soon. "Both sides exchanged views on possible contours of the deal," the commerce ministry said in a statement. A delegation led by Commerce and Industry Minister Piyush Goyal visited the U.S. from September 22 to 24 and met U.S. Trade Represen ...Read More >
Indian officials are set to request the US to ease access for skilled workers during trade negotiations this week, following President Trump's H-1B visa restrictions. Commerce Minister Piyush Goyal will address the movement of IT professionals, expanding talks beyond goods to include services.Indian officials will ask US trade negotiators this week to ease access for thousands of skilled workers, a person familiar with the matter said, days after President Donald Trump's abrupt announcement to r ...Read More >
New Delhi, September 26: India on Friday said that it remains in "active touch" with the US administration with regard to the issue of raised application fee for H-1B visas as it still remains an "evolving situation". External Affairs Minister (EAM) S Jaishankar recently met US Secretary of State Marco Rubio with the discussions focused on trade and tariffs, along with other aspects of the bilateral relationship. "External Affairs Minister had a meeting with Secretary of State Mark Rubio in New ...Read More >
Indian officials have again told the Trump administration that a significant reduction in Russian oil imports by the South Asian nation's refiners would require Washington to instead allow crude purchases from sanctioned suppliers Iran and Venezuela. A delegation visiting the US this week reiterated the request in meetings with American officials, a person with knowledge of the discussions said, asking not to be identified as the talks are private. Indian representatives have emphasized that si ...Read More >
New Delhi, Sep 26 (SocialNews.XYZ) India on Friday said that it remains in "active touch" with the US administration with regard to the issue of raised application fee for H-1B visas as it still remains an "evolving situation". External Affairs Minister (EAM) S Jaishankar recently met US Secretary of State Marco Rubio with the discussions focused on trade and tariffs, along with other aspects of the bilateral relationship. "External Affairs Minister had a meeting with Secretary of State Mark R ...Read More >
The Ministry of External Affairs (MEA) on Friday said India is engaged with the United States and other stakeholders over President Donald Trump's new H-1B visa fee regulations for foreign workers. The Trump administration has hiked the yearly H-1B visa fee to a massive USD 100,000 (more than Rs 88 lakh as per today's exchange rate), handing a big blow to foreigners looking to work in America. The move affects Indians a great deal as they make up over 70 percent of H-1B visa holders. What did M ...Read More >
Ministry of External Affairs (MEA) Official Spokesperson Randhir Jaiswal, reacting to US President Donald Trump's imposition of 100% tariffs on imports of branded and patented pharmaceutical drugs from October 1, 2025, said the government is monitoring the situation closely. On Thursday, the Trump administration announced that starting October 1, 2025, it will be imposing a 100% tariff on any branded or patented pharmaceutical product, unless a company is building their pharmaceutical manufactu ...Read More >
By Manoj Kumar and Shivam Patel NEW DELHI (Reuters) -India said on Friday its officials held "constructive" talks with U.S. counterparts during a visit to Washington this week, and both sides agreed to continue discussions aimed at concluding a mutually beneficial trade deal soon. "Both sides exchanged views on possible contours of the deal," the commerce ministry said in a statement. A delegation led by Commerce and Industry Minister Piyush Goyal visited the U.S. from September 22 to 24 and ...Read More >
NEW DELHI, Sept 26 (Reuters) - India said on Friday its officials held "constructive" talks with U.S. counterparts during a visit to Washington this week, and both sides agreed to continue discussions aimed at concluding a mutually beneficial trade deal soon. "Both sides exchanged views on possible contours of the deal," the commerce ministry said in a statement. A delegation led by Commerce and Industry Minister Piyush Goyal visited the U.S. from September 22 to 24 and met U.S. Trade Represen ...Read More >
New Delhi: India is engaged with the US and other stakeholders over the framing of rules for the Trump administration's move to levy a fee of $100,000 for H-1B visas, with the ministry of external affairs (MEA) saying on Friday that the mobility of skilled Indian talent contributes to innovation and economic growth in both countries. The new fee, announced by US President Donald Trump last week as part of measures to prevent the abuse of the H-1B visa programme -- perceived as a "national secur ...Read More >
New Delhi, Sep 26 (PTI) India and the US have decided to continue negotiations for early conclusion of a mutually beneficial bilateral trade agreement, the Commerce Ministry said on Friday. The statement was issued after the return of the Indian official delegation led by Commerce and Industry Minister Piyush Goyal to New York for trade talks. The delegation returned on September 24 after holding three-day talks. Both sides held constructive meetings on various aspects of the trade deal, the ...Read More >
Mumbai, Sep 26 (PTI) Benchmark stock indices Sensex and Nifty tumbled nearly 1 per cent on Friday, marking their sixth consecutive day of decline, following heavy selling in pharma and IT shares as US President Donald Trump announced 100 per cent duties on pharmaceutical drugs from next month. The 30-share BSE Sensex tanked 733.22 points or 0.90 per cent to settle at a three-week low of 80,426.46. During the day, it dropped 827.27 points or 1 per cent to 80,332.41. The 50-share NSE Nifty tumbl ...Read More >
Mumbai: Equity benchmark indices Sensex and Nifty declined in early trade on Friday dragged by pharma stocks and relentless foreign fund outflows. US H-1B visa fee concerns and a weak trend in global markets also added to the bearish trend in domestic equities. "Investor attention will squarely be on the domestic pharma sector after the Trump Administration announced a 100 per cent tariff on imports of branded or patented pharmaceutical products effective October 1. This tariff action comes clo ...Read More >
MUMBAI (Reuters) -The Indian rupee is likely to stay under pressure on Friday and could slip to an all-time low after U.S. President Donald Trump unveiled a new round of tariffs, including a 100% duty on any branded or patented pharmaceutical products. The 1-month non-deliverable forward indicated the rupee will open around the all-time low of 88.7975 hit earlier this week, compared with Thursday's close of 88.6650. Meanwhile, on Thursday, Trump said duties on branded drugs, heavy-duty trucks ...Read More >
(RTTNews) - Indian shares look set to extend recent losses on Friday after U.S. President Donald Trump announced a new round of tariffs, saying the United States will impose a 100 percent tariff on imported branded drugs, 25 percent tariff on imports of all heavy-duty trucks and 50 percent tariff on kitchen cabinets. Trump also said he would start charging a 30 percent tariff on upholstered furniture next week. Benchmark indexes Sensex and Nifty both fell around 0.7 percent on Thursday to exte ...Read More >
Hyderabad, Amid concerns over US President Donald Trump's proclamation imposing a USD 1,00,000 fee on H1B visas, a famous Balaji temple on the outskirts of Hyderabad is in focus. Known as 'Visa Balaji temple', the shrine located in Chilkur has been popular for over two decades as many devotees believed that they would get a visa if they worship here. Vinay, a technology analyst in a private company and an H1B aspirant, who visited the temple after not getting a visa this year, hoped for divine ...Read More >
Despite trade disputes and concerns over Russian oil imports, the US and India navigate a period of diplomatic friction. High-level engagements, including Secretary Rubio's meeting with Minister Jaishankar and a positive phone call between Presidents Trump and Modi, highlight the relationship's importance. The US emphasizes a commitment to expanding cooperation, viewing India as a crucial partner. The United States and India are working through a period of diplomatic friction amid what appears ...Read More >
Standard Chartered Bank, along with Clearing Corporation of India Ltd (CCIL) and International Financial Services Centre Authority (IFSCA) is set to open the dollar clearing facility in GIFT city on October 7, according P.D. Singh, chief executive officer (CEO) "The entire dollar clearing that is happening in Gift City right now will move to this platform and every bank that is there, foreign and Indian bank, will become a member of this dollar clearing. I think we have a large number of the ba ...Read More >
Bengaluru: Accenture CEO Julie Sweet said H-1B visas are not a major concern for the company, noting that just 5% of its US workforce is on such visas."This is really a non-issue because we only have about 5% of our people in the US on H-1B visas, and they're for really specialised experience and skills for our clients. Not something that's really a big impact on Accenture," she said during an earnings call on Thursday.A Kotak Institutional Equities report showed that Accenture steadily reduced ...Read More >
New Delhi: The United States has announced sweeping changes to the H-1B visa programme for foreign workers. The Department of Homeland Security (DHS) unveiled a proposed "Weighted Selection Process" aimed at prioritising higher-paid and higher-skilled foreign employees. The H-1B lottery for 2027 is set to be drastically different. Employers now face a $100,000 petition fee per worker. The new proposal further changes the visa selection mechanism. The DHS published the proposal, titled 'Weighte ...Read More >
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