India, April 6 -- US President Donald Trump's $100,000 fees hike for specific H-1B visa hires has sparked debate among various industry representatives, with many expressing their views on its effects on the US economy.

Xavier Fernandes, the founder of the immigration agency Y-Axis, stated that the policy might be more detrimental to the US than beneficial.

In an interview with CBS News programme on India's IT sector and H-1B visas, Fernandes said, "It's definitely America's loss. Many CEOs are from Hyderabad. It's just a breeding ground of tech."

According to the US Citizenship and Immigration Services, over 70% of H-1B visa holders in 2024 were from India.

"Indians are the new oil, coal, or gas, it's brain power to run the modern da...