The government clarification also said that H-1B petitions filed before the September 21 fee deadline will not incur the new $100,000 fee. Further, data from industry associations showed Indian IT firms are consistently decreasing their dependence on H-1B visas. Additionally, H-1B visa applications fell from 42,671 in 2017 to 20,870 in 2024. The Nifty IT index has slipped around 16 per cent year-to-date, whereas the Nifty 50 has increased by around 7.1 per cent. Approximately 71 per cent of H-1B visa holders are from India, primarily working for technology companies including Infosys, Wipro, Cognisant, and Tata Consultancy Services.