Over the weekend, US President Donald Trump made it mandatory for H-1B visa applicants to pay a deposit fee of $100,000, with effect from September 21. Applicants would earlier have to pay just a few thousand dollars in application and processing fees for the H-1B visa. A senior US official clarified to CNBC-TV18 that the new deposit requirement is only for new H-1B lottery petitions and does not affect the previous visa holders.
Sasken Tech said its business model is built on a strong offshore-centric delivery framework, with the majority of its workforce engaged in engineering research and development and digital services from development centres in India.
This model enables Sasken Tech to maintain cost competitiveness and agility by combining remote delivery from India with locally-hired onsite or nearshore staff where required, it said. As a result, the company added that it is well-positioned to continue meeting customer needs seamlessly, regardless of the geopolitical or regulatory changes.
“The order will have little to no impact on Sasken’s ability to serve its customers in the US. Our offshore-led approach ensures business continuity, while our teams remain in close touch with customers to understand their evolving priorities and support them better in this uncertain environment,” as Sasken Tech spokesperson said.
Shares of Sasken Tech ended the previous session 0.2% up at ₹1,498.9 apiece. The stock has declined 28.7% this year, so far.
Also Read: H-1B Visa Fees News: From Persistent to Coforge, six IT companies share the impact on the business
