H1-B visa suspension to have Rs 1,200 crore impact on Indian IT firms: Crisil

Mumbai: Suspension of the H1-B visas by the US will cost domestic IT firms Rs 1,200 crore and have a marginal 0.25-0.30 per cent impact on their profitability, a domestic rating agency said on Monday.

An increase in local hiring over the last few years since the US – the largest market for Indian IT firms – started curbing the visa issuances will help limit the impact on the Indian IT companies now, Crisil Ratings said.