Information technology stocks tumbled nearly 2 per cent after the US announced a USD 100,000 fee for new H-1B visa applications. The move has raised concerns over the profitability and talent access for India’s USD 283 billion IT outsourcing sector. New Delhi has stepped up its efforts to finalise a Bilateral Trade Agreement (BTA) as Goyal is expected to meet the US delegation in a few hours. The high-level India-US trade talks have ignited expectations of a lowering of reciprocal duties and enhanced confidence in export-oriented and multinational sectors. India’s resilience and patience paid off with the US President and Prime Minister Narendra Modi of India exchanging pleasantries on social media earlier this month.