During intraday trade, the Infosys ADR fell as much as 7.5% to $16.24, to finally end the day 3.14% lower at $16.97, meanwhile, Wipro ADR fell 3.5% to settle at $2.76.
According to the Reuters report, the Trump administration announced it would require companies to pay $100,000 per year for each H-1B visa holder. The proposed policy is expected to affect technology firms that heavily depend on skilled workers from India and China, with India accounting for 71% of H-1B visa approvals in the previous year.
The report also noted that Amazon, Microsoft, and Meta had each received thousands of H-1B visa approvals in the first half of 2025 alone.
The proposed fee is part of a broader immigration overhaul by the Trump administration. Since taking office, Trump has initiated steps to limit legal immigration, with the H-1B visa program being a prominent focus. The report states that the administration considers this move a major effort to reform the temporary employment visa framework.
According to the Reuters report, U.S. Commerce Secretary Howard Lutnick was quoted in the report, urging companies to train American graduates instead of relying on foreign workers, saying, “Train Americans. Stop bringing in people to take our jobs.” The statement echoes long-standing criticism that the H-1B visa system has been used by companies to suppress domestic wages and sideline local talent.However, the Reuters report also cited supporters of the H-1B program, including Tesla CEO Elon Musk, who believe that the program fills critical skill gaps and keeps U.S. firms competitive in the global economy. Musk, a naturalized U.S. citizen, has held an H-1B visa in the past.The policy, if enacted, could increase costs significantly for firms, especially smaller tech companies and startups. While Reuters reported that the full administrative framework of the fee was not yet finalized, Lutnick confirmed that the figure of $100,000 per year for each of the three years of a visa’s duration was being considered.
Some analysts cited by Reuters suggested that the fee may force companies to offshore high-value work, potentially affecting America’s competitiveness in areas like artificial intelligence.
Infosys and Wipro, both of which employ a significant number of H-1B visa holders in the United States, saw their ADRs slide during the session. Investors responded to concerns about rising costs and potential disruption in overseas staffing models.
The extent of the decline — up to 4% — reflected market fears about the impact of the proposed visa fees on the business models of Indian IT service exporters.
The Reuters report concluded with a statement from Lutnick indicating broad corporate support for the move, stating that “all the big companies are on board” with the proposed $100,000 yearly H-1B fee.
Also read: Defence tech companies can join $500 billion club in 5-8 years: Gurmeet Chadha
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