New Delhi, Sept. 24 -- In the short term, President Donald Trump's bombshell decision to impose an additional $100,000 annual cost on new H-1B work visa applications to the US may feel like a punch in the gut for Indian IT professionals. However, over the longer term, it could trigger a third wave of technological transformation in India.

The new policy, announced on September 19, came as a complete surprise and sent waves of stress and panic through hundreds of thousands of H-1B visa holders, their families, and their employers. This anxiety is especially acute given that over 70% of H-1B recipients are young Indian tech graduates who have long viewed the program as a gateway to prosperity, professional advancement, and the possibility ...