US Plans 30% Salary Hike For H-1B Visa Holders But Here's Why It's Bad News For Indians

India Bans Sugar Exports, Global Prices Likely To Rise

Deepika Bhatt — Thu, 14 May 2026 08:04:47 +0530

India has imposed an immediate ban on sugar exports until September 30, 2026, or until further orders, according to a government notification issued on Wednesday. The decision comes as the country seeks to keep domestic sugar prices under control amid concerns over falling production.

The export restriction is expected to impact global sugar markets, with analysts predicting support for both raw and white sugar prices internationally. The move could also open opportunities for other major exporters such as Brazil and Thailand to increase supplies to Asian and African markets.

India is the world’s second-largest sugar producer and among the leading exporters globally. Earlier this year, the government had allowed sugar mills to export 1.59 million metric tonnes, anticipating that production would comfortably meet domestic demand.

However, lower sugarcane yields in key producing regions have now raised fears that output may fall short of consumption for the second straight year.

Concerns over possible El Niño conditions affecting the upcoming monsoon season have further added to worries about future production levels.

According to trade sources, export agreements had already been signed for nearly 800,000 metric tonnes of sugar, out of which more than 600,000 tonnes have reportedly been shipped.

Ban Applies To Both Raw And White Sugar

The government clarified that the ban applies to both raw and white sugar exports, though consignments already in the export process will be allowed under specific conditions. Shipments can continue if loading had started before the notification was officially published, or if shipping documents had already been filed and vessels had reached Indian ports. Sugar consignments handed over to customs authorities before the order was issued will also be cleared.

Traders said the sudden policy shift could create difficulties for exporters who had entered into deals after the government expanded export quotas earlier this year.

Following the announcement, global sugar prices surged, with raw sugar futures in New York rising over 2% and London white sugar futures jumping nearly 3%.

Trainer aircraft of private firm crash-lands in Maharashtra's Baramati; pilot safe

PTI — Thu, 14 May 2026 00:16:07 +0530

Pune, May 13 (PTI): A trainer aircraft of a private company made a crash landing near the Baramati airstrip in Maharashtra's Pune district after developing a technical snag on Wednesday morning, police said.

A trainee pilot, who was the sole occupant of the aircraft, was safe, officials said.

The incident occurred near Gojubavi village near the Baramati airstrip at 8.50 am, said a police official.

The aircraft belonged to Redbird Flight Training Academy. The company said it had launched an investigation into the incident.

Aircraft from the same company had previously been involved in accidents in the district, officials said.

Notably, a private chartered plane belonging to another company, VSR Ventures, carrying then deputy chief minister Ajit Pawar and four others, crashed near the Baramati airstrip on January 28, killing all persons on board.

Aviation regulator DGCA, in a late evening statement, said, "On May 13, M/s Red Bird Aviation, a Flight Training Organisation (FTO) Tecnam 2008JC Aircraft VT-RFY while engaged in a solo flying made forced landing at a place Gojubovi in the vicinity of Baramati Airport,".

The aircraft was being flown by a student pilot, it said.

According to the DGCA, while the first circuit and landing was successful, during the second circuit, "the student pilot observed some technical glitch and made a forced landing in an open field." "The student pilot is safe, but the aircraft sustained damage," the regulator said.

DGCA has initiated an investigation, the statement added.

Talking about Wednesday's incident, Pune Superintendent of Police Sandip Singh Gill told PTI, "As per eyewitnesses, the aircraft was flying at a comparatively low altitude when it developed a technical malfunction. During the crash landing, one side of the aircraft reportedly hit an electricity pole." Police rushed to the spot immediately after receiving information, he said.

"Necessary inquiry and further action are underway," the official added.

Redbird Flight Training Academy said in a statement that its aircraft, a Tecnam P2008JC with registration VT-RFY, was undertaking a solo flight, and the trainee pilot did not suffer any injuries.

"Necessary actions are being undertaken in coordination with the relevant authorities," it said.

Company sources said that the left wing tip, nose landing gear, prop and prop spinner of the aircraft suffered damage.

According to Directorate General of Civil Aviation sources, Redbird Tecnam 2008JC aircraft VT-RFY engaged in solo local sector flying at Baramati was involved in forced landing at Gojubovi. Officials have been sent to the site for investigation, they added.

On October 19, 2023, a pilot was injured when a trainer aircraft of the same company crashed near Katfal village in Baramati taluka.

On October 22, 2023, two persons were injured as another trainer aircraft belonging to the same academy crashed near Gojubavi village, close to Baramati. PTI SPK IAS GK KRK RSY

(This story is published as part of the auto-generated syndicate wire feed. No editing has been done in the headline or the body by ABP Live.)

Air Conditioners, Fuel, And Food: Tracking Summer Inflation At Home

Pallavi Shaw — Wed, 13 May 2026 23:48:55 +0530

Summer expenses are becoming harder to ignore. Higher temperatures are pushing up electricity usage, fuel costs continue to affect daily budgets, and food prices remain unpredictable. Together, these pressures are making seasonal inflation feel more visible in everyday life. As household costs rise across categories, managing summer spending is becoming just as important as managing long-term financial goals.

Electricity Bills Rise During Peak Summer Months

One of the biggest summer expenses for many households is electricity. Air conditioners, coolers, and fans often run for longer hours during extreme heat, increasing power consumption and utility bills. At the same time, appliance and maintenance costs have also risen. As a result, many households are trying to balance comfort with energy efficiency through simple measures such as regular servicing,
energy-saving settings, and limiting unnecessary usage.

Fuel Costs Continue To Affect Overall Spending

Even when fuel prices appear relatively stable, transportation and delivery costs often stay elevated. Daily commuting, ride fares, and logistics expenses indirectly affect several areas of spending. Summer travel also tends to increase because of vacations and seasonal movement. This can add further pressure on fuel-related expenses. As a result, many households are becoming more mindful about travel planning, combining errands, and reducing unnecessary trips where possible.

Food Inflation Is Becoming More Noticeable

Prices of food often become more volatile during summer months. Heatwaves, supply disruptions, and seasonal shortages can affect the cost of vegetables, fruits, and other essentials. As a result, grocery budgets may no longer remain consistent every month.

Eating out and food delivery costs have also risen steadily, prompting many households to plan meals more carefully, reduce food waste, and track spending more closely.

Seasonal Spending Now Extends Beyond Essentials

Summer inflation is no longer limited to electricity and groceries alone. School vacations, travel plans, seasonal shopping, and healthcare costs can all add pressure on monthly budgets at the same time. This becomes more difficult when income growth does not keep pace with rising expenses. As a result, short-term budgeting and cash flow planning are becoming increasingly important. Tracking smaller expenses regularly can help prevent seasonal spending from affecting long-term savings goals.

Managing Summer Inflation More Carefully

Managing summer inflation starts with better spending habits. Creating a seasonal budget can help you prepare for temporary increases in expenses. Separating essential and discretionary spending also makes it easier to control costs. Avoiding excessive reliance on credit for routine expenses and making small adjustments in electricity usage, travel, or grocery spending can help reduce financial pressure over time.

Summer inflation is becoming more visible in everyday household budgets. From electricity bills to fuel and food costs, seasonal expenses are rising across categories.

While these costs may be difficult to avoid completely, careful planning and mindful spending can help you manage them more effectively and reduce financial pressure.

(The author is Associate Analyst, Communications, BankBazaar.com. This article has been published as part of a special arrangement with BankBazaar)

S&P 500 Holds Near Record Highs As Chip Stocks Rally Despite Inflation Concerns

Sagarika Chakraborty — Wed, 13 May 2026 23:31:38 +0530

The S&P 500 hovered near record highs on Wednesday as gains in chipmakers and megacap technology stocks helped support Wall Street, even as stronger-than-expected producer prices reinforced expectations that the Federal Reserve could maintain a restrictive monetary policy stance for longer.

Shares of Alphabet and Tesla rose 2.6% and 3.6%, respectively.

The Philadelphia Semiconductor Index climbed 2.3% and was testing a fresh record high after rebounding from losses in the previous session.

Producer Prices Rise Sharply

US producer prices increased more than expected in April, recording their biggest rise since early 2022, in another sign that inflationary pressures were intensifying amid the ongoing conflict involving Iran.

The data came a day after US consumer inflation recorded its sharpest increase in three years in April, pulling the S&P 500 and Nasdaq back from record levels.

Steve Wyett, chief investment strategist at BOK Financial, said inflationary risks had been building even before the Iran conflict escalated.

“Frankly, inflation pressures were already percolating before the Iran conflict, and while much of the damage can be undone if we get a quick resolution, today's PPI print is a reminder of the level and intensity of the coming price pressures at the consumer level,” Wyett said.

Fed Rate Expectations Turn More Hawkish

Traders are now expecting the Federal Reserve to keep interest rates unchanged throughout the year. According to the CME FedWatch Tool, markets are pricing in a 34.3% chance of a rate hike by December, compared with roughly 15% a week earlier.

Markets are also watching developments at the Federal Reserve closely after the Senate confirmed Kevin Warsh to the Fed board on Tuesday. Investors expect a potentially more hawkish central bank leadership, with Jerome Powell’s term as Fed chair ending on Friday.

Trump-Xi Summit Draws Attention

Meanwhile, US President Donald Trump arrived in Beijing accompanied by business leaders including Jensen Huang and Elon Musk ahead of his summit with Chinese President Xi Jinping.

Trump had earlier said he did not expect to ask Xi to help resolve the conflict involving Tehran during the two-day summit.

Investors remain concerned that a prolonged geopolitical conflict could keep energy prices elevated, further adding to inflationary pressure and complicating Federal Reserve policy decisions.

Market Snapshot

At 11:18 AM. ET, the Dow Jones Industrial Average fell 268.56 points, or 0.53%, to 49,494.88.

The S&P 500 gained 13.33 points, or 0.18%, to 7,414.29, while the Nasdaq Composite rose 185.49 points, or 0.71%, to 26,274.14.

Seven of the eleven major S&P sectors traded lower, with the utilities sector leading declines with a 1.7% drop.

Among individual stocks, Nebius Group jumped 15.9% after reporting nearly an eightfold rise in quarterly revenue.

Morgan Stanley also raised its year-end target for the S&P 500 to 8,000 from 7,800, citing strong corporate earnings and room for further gains in US equities.

Declining stocks outnumbered advancing shares by a ratio of 1.77-to-1 on the NYSE and 1.35-to-1 on the Nasdaq.

The S&P 500 recorded 23 new 52-week highs and 44 new lows, while the Nasdaq Composite posted 79 new highs and 163 new lows.

Bingx Names World Champion Enzo Fernández As Global Ambassador Ahead Of 2026 FIFA World Cup

ABP Live Focus — Wed, 13 May 2026 21:57:08 +0530

BingX, a leading cryptocurrency exchange and Web3-AI company, today named two-time football world champion Enzo Fernández as its Global Ambassador. The partnership builds on BingX’s global sports partnership strategy following its recent partnership with Scuderia Ferrari HP and renewal with Chelsea FC, arriving at a pivotal moment ahead of the 2026 FIFA World Cup, positioning BingX to engage billions of fans worldwide on football’s greatest stage.

As one of the most exciting talents of his generation, Fernández, who plays for Chelsea FC, and represents the Argentina national team, embodies ambition, precision, and resilience. Through this collaboration, BingX aims to connect the precision and performance of elite sport and digital finance, inspiring a new generation of users to take control of their future. The partnership will unfold through global campaigns, digital experiences, and fan-focused initiatives throughout the 2026 World Cup period and beyond.

This announcement marks a significant milestone in BingX’s global expansion and evolution of its brand identity as a premium, globally recognized platform. Following its partnership with Chelsea FC in 2024 and a multi-year collaboration with Scuderia Ferrari HP in early 2026, Enzo Fernández has become the company’s first individual athlete Global Ambassador. Fernández’s journey from Buenos Aires to the pinnacle of world football mirrors BingX's own trajectory of growth, determination, and global ambition.

“This partnership marks an important step in BingX’s growth across Latin America," said Pablo Monti, Spokesperson of BingX. “Enzo Fernández represents a rare combination of adaptability, intelligence, and control under pressure. These qualities strongly resonate with BingX and reflect the mindset behind how BingX helps users navigate fast-moving financial markets with confidence across crypto, stocks, forex, commodities, and beyond.”

“I’m proud to join BingX as a Global Ambassador,” said Enzo Fernández. “For me, success is built in the unseen moments: the discipline, the belief, and the consistency behind every decision. That mindset is what drew me to BingX. It’s a platform known for trust and reliability, and I’m looking forward to the journey ahead and what we can build over time. Together, we want to inspire people to trust themselves, take control, and build their own path forward.”

About BingX
Founded in 2018, BingX is a leading crypto exchange and Web3-AI company, serving over 40 million users worldwide. Ranked among the top five global crypto derivatives exchanges and a pioneer of crypto copy trading, BingX addresses the evolving needs of users across all experience levels.

Powered by a comprehensive suite of AI-driven products and services, including futures, spot, copy trading, and TradFi offerings, BingX empowers users with innovative tools designed to enhance performance, confidence, and efficiency.

BingX has been the principal partner of Chelsea FC since 2024, and became the first official crypto exchange partner of Scuderia Ferrari HP in 2026.

For more information, please visit: https://bingx.com/

Disclaimer: This is a sponsored article. ABP Network Pvt. Ltd. and/or ABP Live do not endorse/subscribe to its contents and/or views expressed herein. Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.

Crude Oil Shock May Push India Towards Fuel Price Hike, Says RBI Chief

Sagarika Chakraborty — Wed, 13 May 2026 17:03:06 +0530

India may eventually have to increase petrol and diesel prices if tensions in the Middle East continue for an extended period, Reserve Bank of India Governor Sanjay Malhotra has indicated, as rising crude oil prices continue to pressure inflation, fuel imports and the broader economy.

Speaking at a conference hosted by the Swiss National Bank and the International Monetary Fund in Switzerland, Malhotra said the government may not be able to indefinitely shield consumers from rising global energy costs.

“If this is to continue for longer period of time, it is just a matter of time before the government will pass on some of the price increases,” Malhotra said.

Strait Of Hormuz Crisis Pushes Up Oil Prices

India, the world’s third-largest oil consumer, has been facing mounting pressure after tensions around the Strait of Hormuz disrupted energy supplies and drove crude oil prices sharply higher.

The disruption along the critical shipping route has intensified concerns over supply-chain risks, inflation and India’s rising energy import bill.

India imports the bulk of its crude oil requirements, making the economy particularly vulnerable to sustained increases in global oil prices. Higher crude prices raise transportation and manufacturing costs, pressure the rupee and contribute to inflationary trends.

Government, Oil Companies Absorbing Costs For Now

At present, the central government and state-run oil marketing companies are absorbing a significant portion of the increase in crude oil prices.

Excise duties on fuel have already been reduced, while oil marketing companies continue selling petrol and diesel below market-linked rates despite rising losses.

However, prices of several fuel products have already been revised upward. State-run fuel retailers have increased the prices of:

commercial LPG cylinders
industrial diesel
5-kg LPG cylinders
jet fuel supplied to international airlines

Commercial LPG cylinder prices for 19-kg cylinders were recently raised by Rs 993.

Retail prices of petrol, diesel and domestic LPG cylinders, however, remain unchanged for now.

PM Modi Had Urged Citizens To Conserve Fuel

The developments come days after Prime Minister Narendra Modi urged citizens to voluntarily reduce petrol and diesel consumption and avoid unnecessary gold purchases to help conserve foreign exchange reserves.

Union Oil Minister Hardeep Singh Puri had also recently expressed concern over the financial pressure on oil marketing companies.

“How long will the oil companies be able to take it? Frankly, that worries me,” Puri said at an industry conference.

IMF Supports Passing On Higher Oil Costs

The International Monetary Fund has also supported passing on higher crude oil prices to consumers, while maintaining that India still has room to manage the present energy shock.

India’s fuel retail market remains largely dominated by state-owned refiners, which account for nearly 90% of fuel outlets across the country. Although state taxes vary, petrol and diesel prices are effectively cleared by the central government.

ALSO READ: RBI Set To Pay Highest-Ever Dividend To Government, Fiscal Boost Expected

India’s retail inflation rose to 3.48% in April from 3.40% in March. However, inflation remained below expectations as the government absorbed part of the rise in crude oil prices.

Economists, however, remain concerned that prolonged high oil prices could:

push inflation higher
slow economic growth
weaken the rupee
widen the current account deficit

The RBI has projected economic growth of 6.9% for the current financial year and average inflation of 4.6%.
The central bank kept the repo rate unchanged at 5.25% in April. Malhotra said the RBI remains data-dependent and prepared to act if inflationary pressures become more persistent.

ALSO READ: Rupee Hits Historic Low Of 95.80 Against US Dollar On Crude Oil Pressure, Global Trade Worries

Kerala Fuel Pumps Cap Diesel, Petrol Sales Amid Supply Management Measures

Sagarika Chakraborty — Wed, 13 May 2026 16:44:28 +0530

Fuel outlets across Kerala have reportedly begun restricting bulk fuel sales, limiting diesel purchases to a maximum of 200 litres and capping petrol purchases at around Rs 5,000 per person, according to reports cited by Mathrubhumi.com.

The measures have been introduced as part of supply management efforts aimed at maintaining steady fuel availability at retail outlets and preventing sudden stock depletion during periods of increased demand.

Fuel Supplies Being Managed Via Short-Term Cycles

According to Mathrubhumi.com, oil marketing companies are currently supplying fuel stations based on short-term demand cycles instead of longer replenishment windows.

Petrol pumps are reportedly receiving fuel stocks sufficient for only a few days at a time, leading operators to adopt temporary restrictions on bulk sales.

The report also stated that the introduction of advance payment requirements, along with the withdrawal of credit-based supply systems, has added to operational pressures at fuel stations.

Retail Dependent On Regular Tanker Deliveries

Kerala has around 2,500 petrol pumps, many of which rely on regular tanker deliveries ranging between 12,000 and 24,000 litres, according to Mathrubhumi.com.

Daily fuel sales vary significantly across the state. Urban fuel stations reportedly sell up to 10,000 litres of diesel per day, while smaller outlets handle much lower volumes.

Operators said the temporary restrictions were introduced to prevent abrupt stock depletion during high-demand periods.

Distributors Rule Out Nationwide Fuel Shortage

Fuel distributors clarified that there is no formal nationwide shortage affecting supply to petrol pumps. However, they warned that logistical delays could result in temporary localised disruptions, Mathrubhumi.com reported.

Representatives of the Kerala State Petroleum Traders Association said the purchase limits are intended to ensure uninterrupted availability at retail outlets rather than signal fuel scarcity.

Energy Reserves Remain Adequate: Govt

The central government has maintained that India currently holds adequate energy reserves, including nearly two months of crude oil and natural gas stocks, along with around one-and-a-half months of LPG supply, according to the report.

At the same time, oil marketing companies are reportedly facing financial pressure due to elevated global crude oil prices, with estimated daily losses running into thousands of crores, Mathrubhumi.com said.

ALSO READ: RBI Set To Pay Highest-Ever Dividend To Government, Fiscal Boost Expected

Officials reiterated that the situation should not be viewed as a fuel shortage. However, temporary restrictions are expected to affect bulk buyers and logistics operators more significantly than regular consumers, as authorities attempt to stabilise distribution and prevent stock imbalances at local fuel stations.

ALSO READ: US Plans 30% Salary Hike For H-1B Visa Holders But Here's Why It's Bad News For Indians

Cabinet Approves Rs 37,500 Crore Scheme To Boost Coal Gasification, Cut Import Dependence

PTI — Wed, 13 May 2026 16:29:50 +0530

New Delhi, May 13 (PTI): The Union Cabinet on Wednesday approved a Rs 37,500-crore incentive scheme to promote coal gasification projects, aimed at boosting clean energy production and reducing dependence on forex-guzzling imports.

"An outlay of Rs 37,500 crore has been kept for this scheme, and there will be an investment of around Rs 3,000 lakh crore in this, and the projects will be put up for gasifying 75 million tonnes of coal," Union Information & Broadcasting Minister Ashwini Vaishnaw said in a media briefing.

The decision was taken in the meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi.

Vaishnaw said the country has 401 million tonnes of known coal reserves, which is enough for the next 200 years.

"We all know about the current geopolitical situation. So we have to take all the decisions to become Atma Nirbhar. In this context, a big decision on coal gasification was taken today," he said.

Coal gasification refers to the process of converting dry fuel into synthetic gas (syngas), which is used as an alternative fuel and helps reduce carbon emissions. This process supports production of methanol, fertilizers, hydrogen and chemicals, cutting reliance on imported oil (83 per cent), methanol (over 90 per cent) and ammonia (13-15 per cent).

The scheme is aimed at accelerating surface coal and lignite gasification projects across the country, promoting self-reliance by reducing import dependence on critical commodities such as LNG, urea, ammonium nitrate, ammonia, and coking coal, while enabling enhanced utilisation of domestic resources.

The country aims for 100 million tonnes of coal gasification capacity by 2030.

Coal remains the backbone of India's energy sector, accounting for over 55 per cent of the country's energy mix. As the second-largest producer and consumer of coal globally, India's coal consumption is expected to grow significantly as its energy demands continue to rise.

According to experts, gasification presents a unique opportunity for India to unlock the full value of its vast domestic reserves through clean and efficient utilisation pathways.

(Disclaimer: This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)

RBI Set To Pay Highest-Ever Dividend To Government, Fiscal Boost Expected

ABP Live Business — Wed, 13 May 2026 16:28:06 +0530

The Reserve Bank of India is likely to transfer a record dividend to the central government this year, giving the Centre additional fiscal room as it navigates economic pressures from the ongoing Middle East crisis, sources said.

The RBI's central board is expected to meet this month to finalise the dividend amount.

Last Year's Record Payout

In 2024-25, the RBI transferred Rs 2.69 lakh crore to the government, which was a record at the time, and 27 per cent higher than the Rs 2.11 lakh crore paid the previous year. This year's payout is expected to surpass that figure.

The dividend amount is determined each year based on the RBI's revised Economic Capital Framework, which was approved by its central board. Under this framework, the RBI is required to maintain a Contingent Risk Buffer (a reserve set aside to absorb unexpected financial shocks) within a range of 4.50 to 7.50 per cent of its balance sheet. The surplus left after maintaining this buffer is what gets transferred to the government.

Government Had Budgeted Conservatively

The Union Budget for 2026-27 had estimated Rs 3.16 lakh crore in combined dividends and surpluses from the RBI, nationalised banks, and other financial institutions. This is about 3.75 per cent more than the current fiscal year. However, sources said the actual payouts are expected to exceed this estimate.

Public sector banks have also posted record profits in FY26, which will add to the total surplus transferred. Their aggregate net profit rose 11.1 per cent to Rs 1.98 lakh crore. A historic high and the fourth consecutive year of aggregate profitability. Combined operating profit stood at Rs 3.21 lakh crore. Improved asset quality, healthy credit growth, and higher income were cited as the key drivers.

Dividends from public sector enterprises and other investments have been budgeted at Rs 75,000 crore for the next fiscal year, up from Rs 71,000 crore in the current year.

Also Read: Rupee Hits Historic Low Of 95.80 Against US Dollar On Crude Oil Pressure, Global Trade Worries

Where This Money Fits In The Budget

Dividend receipts and RBI surplus transfers are counted as non-tax revenue, money the government earns without levying taxes. The Centre has projected total non-tax revenue of Rs 6.66 lakh crore for the next fiscal, marginally lower than Rs 6.67 lakh crore in 2025-26.

Tax revenue, on the other hand, has been pegged at Rs 28.66 lakh crore for 2026-27, up 7.18 per cent from Rs 26.74 lakh crore in the current fiscal year.

Also Read: Sensex Edges Up 49 Points, Nifty Near 23,400 As Markets Stabilise After Three-Day Rout

US Plans 30% Salary Hike For H-1B Visa Holders But Here's Why It's Bad News For Indians

ABP Live Business — Wed, 13 May 2026 16:01:56 +0530

The US Department of Labor has released a draft proposal to raise the minimum wage, also known as the Prevailing Wage, for H-1B and related visa holders by an average of 30 per cent. The rule, titled 'Improving Wage Protections', is aimed at safeguarding jobs for American citizens and curbing the practice of hiring foreign workers at lower pay.

The proposal was introduced on March 27 and is open for public comment until May 26. If implemented, it could significantly reshape hiring across America's tech industry.

Why This Rule Is Being Introduced

The core intent is to make it more expensive for American companies to hire foreign workers by raising the base salary floor. Under the proposal, an entry-level hire who previously earned around $73,000 (approximately Rs 61 lakh) per year would now need to be paid at least $97,000 (approximately Rs 81 lakh).

Skill Level	Current Average Minimum Wage (Annual, USD)	Proposed New Minimum Wage (Annual, USD)	Hike
Entry Level / Freshers	$73,279	$97,746	33.39%
Junior / Mid-Level	$98,987	$1,23,212	24.47%
Experienced Professionals	$1,21,979	$1,47,333	20.79%
Top-Level Experts	$1,44,202	$1,75,464	21.68%

What It Means For Companies

American firms will face higher costs for onboarding visa-holding employees. Indian IT services companies such as TCS, Infosys, and Wipro, which deploy large numbers of workers onsite in the US, will see their operational costs rise, putting pressure on profit margins. These companies may, in turn, pass on part of this financial burden to their clients. More broadly, firms are likely to shift their hiring preference toward American citizens over visa holders.

Why It Is Bad News For Indians

Indian students and entry-level foreign workers will find it harder to land jobs in the US under the new framework. Smaller companies and startups are unlikely to offer such salaries at the entry level. However, for those already working in the US with high skill levels, the rule could work in their favour. Employers will be required to increase their pay at the time of visa renewal.

Also Read: EXCLUSIVE | Silicon Valley’s Brutal AI Reset Has Wiped Out 73,000+ Jobs This Year. India Inc Thinks There's A Silver Lining Here

Mixed Reactions To The Proposal

The proposal has drawn a divided response. Supporters see it as a necessary correction to a wage floor that has remained stagnant for nearly two decades. Critics, however, warn that smaller companies may no longer be able to afford hiring foreign workers for entry-level roles if higher wage thresholds take effect.

This is not the first time such a change has been attempted. During his first term, the Trump administration tried in 2020 to revise prevailing wage rates without prior notice or public consultation. That move faced legal challenges and was eventually rolled back. This time, the administration is following the formal public comment process.

Also Read: Fuel Prices May Rise If Iran War Continues, Warns RBI Governor