US government to end work permit for spouse of H1B visa holders

IT stocks dipped on Tuesday, after the Trump admin affirmed that it will end work permit issued to the spouses of H1B visa holders. This is expected to impact thousands of Indian IT workers working in the US on H1B visa.

Immediate family members of the H1B visa holder are admitted to the US under H-4 category visa. In 2015, US administration under Obama passed a rule called the Employment Authorization for Certain H-4 Dependent Spouses rule which made spouse of H1B visa holders eligible for work permit in US.

This ruling would deter a number of high-skilled IT professional from staying in the US has their wives are also equally qualified and are either working or may not be able to work in the US.

Among IT stocks, Infy was trading at Rs. 1,164.00 per share, down by 1.64 per cent in post lunch hours, TCS was trading at Rs. 3,388.00 per share, down by 0.80 per cent, Wipro was at Rs. 289.90 per share, down by 2.34 per cent, Tech Mahindra Rs. 688.80 per share, down by 1.90 per cent on Tuesday. Nifty IT was at 13,770.55, down by 1.74 per cent on Tuesday, at 15:03 hours.