Nifty (India stock index) edges lower as IT sector hit by U.S. visa fears [View all]

[bart95]

the transfer of wealth from the middle class to India's elite (via h-1b visas) couldnt be more clear

"Among leading decliners, India's technology outsourcing companies fell on local media reports the United States had raised the cost of processing H-1B employment visas, which is widely used by domestic companies.

The higher costs could hit profit margins at India's $100 billion technology, and raised concerns the industry could be further targeted by the United States."



http://in.reuters.com/article/2012/03/29/india-nifty-sensex-it-us-visa-idINDEE82S0BD20120329