March 29, 2012 / 5:43 AM / 5 years ago

Infosys, TCS drop on U.S. visa reports

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Indian engineers attend to calls from abroad inside a call center in Gurgaon on the outskirts of New Delhi December 3, 2003.Kamal Kishore/Files

REUTERS - India's technology outsourcing companies fell on Thursday on local media reports the United States had raised the cost of processing H-1B employment visas.

The higher costs could hit profit margins at India's $100 billion technology and business process outsourcing industry, which employs 107,000 people in the United States, of which near a third are Americans.

Indian companies also send local employees to United States, typically through the H-1B visas.

Infosys (INFY.NS) and Tata Consultancy Services (TCS.NS) each fell 1.6 percent.

Reporting by Abhishek Vishnoi; Editing by Rafael Nam

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