New Delhi, Sept. 21 -- Uncertainty continues to dog the Indian IT sector, which is facing one of its toughest phases in years. On top of a slowing growth, US President Donald Trump has signed a proclamation hiking the H-1B visa fee to a staggering $100,000. The Trump administration later clarified that this is not an annual fee and is only applicable to new visas and not existing visa holders.

Still, analysts warn this move would force Indian IT companies to hire locally at higher wages or shift operations out of the US, all of which could weigh on their revenue and profitability.

The new policy is expected to hit the big players the hardest. The top three IT firms by net profits - TCS, Infosys and Wipro - together accounted for nearly ...