New Delhi/Bengaluru – Stricter H-1B visa rules under the Trump administration, including a hike in visa costs to $100,000 (around Rs 88 lakh), have prompted many U.S. companies to reconsider hiring foreign talent directly and instead expand their operations in India.
Several American banks and global financial institutions, including JPMorgan Chase, Goldman Sachs, KKR, and Millennium Management, are increasing their presence in Mumbai, Bengaluru, and Hyderabad. These firms are hiring finance specialists, credit support staff, and risk analysts to meet growing operational needs in India.
According to Bloomberg, JPMorgan Chase is recruiting credit support specialists in Bengaluru, Goldman Sachs is seeking associates for loan review, KKR & Co. is expanding teams in Mumbai to oversee portfolio companies, and Millennium Management is hiring risk analysts for its derivatives trading team.
Nearly 75% of H-1B visa holders are Indian professionals, underscoring the U.S. reliance on Indian talent. The recent H-1B fee hike and removal of automatic EAD extensions have created challenges for U.S. companies in filling positions with foreign employees. As a result, firms are increasingly utilizing the L-1 visa program, which allows temporary transfers of employees already working for the company overseas.
The trend highlights India’s growing role as a strategic hub for U.S. banks and finance companies amid stricter immigration policies in the United States.