Infosys, Wipro ADRs decline up to 4% amid Trump’s proposal for $100,000 annual H-1B visa fee
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American Depositary Receipts (ADRs) of major Indian IT firms Infosys and Wipro declined by up to 4% on Friday following the Trump administration’s plan to impose a $100,000 annual fee per H-1B visa, a move that could significantly impact companies reliant on foreign skilled workers. 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...