India Markets Slip After Reported H‑1B Overhaul

The Trump administration is reported to be overhauling the H‑1B program, including a move from a lottery to a wage‑based selection process and steep new charges (coverage cites a roughly $100,000 levy for some hires). The announcement has prompted firms to pause recruitment, review budgets and consider offshoring or reshaping hiring, which threatens entry‑level Indian talent and could force major outsourcing firms to rethink business models. Some Indian academics and research leaders view the disruption as an opportunity to retain talent domestically and boost innovation and research capacity. Financial markets priced in the shock: Sensex and Nifty posted third‑ and fourth‑straight daily declines, down about 0.3–0.4%, with IT, auto and private bank stocks among the biggest drags amid persistent foreign outflows and weak global cues. Companies and policymakers are now weighing longer‑term shifts in hiring, investment and India‑U.S. economic ties as the implementation and effects of the rule continue to unfold. The changes have also introduced prospects for increased political and trade friction between Washington and New Delhi.