US passes Visa fee hike bill ignoring Indian concerns

Brushing aside India's concerns on the issue of Visa fee hike, US has passed a bill on Thursday to extend the fee hike on H1B and L1 visas used by Indian professionals working in America and impose an additional two per cent fee on Indian exports(goods and services purchased from contractors in India).

What this means:

The visa fee hike is expected to add another $ 200 million a year to the cost of Indian IT companies operating in the US and together with tariff hike on Indian goods constitutes a setback for India- US economic ties.

A number of business groups, including the US Chamber of Commerce are reported to have opposed some of the provisions of the bill. --------

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