
Donald Trump's crackdown on student visas triggers EB-5 rush among Indians chasing Green Cards through investment
EB-5 applications rise among Indian F-1 visa holders
Immigration lawyers report a noticeable increase in interest from Indian students currently on F-1 visas. Rajneesh Pathak, founder of immigration law firm Global North Residency and Citizenship, stated that while the EB-5 route was earlier dominated by H-1B visa holders, 'the interest from F-1 visa holders has risen by 100% over the last few months.' This trend gained traction during the final phase of President Donald Trump's second term, when many began reassessing their long-term residency options in the US.
Political climate drives parents toward investment visas
Parents are also playing a significant role in the shift. Given the unpredictable political environment and increasing scrutiny of international students, families are opting for the EB-5 route as a precaution. Pathak noted that many parents are 'willing to invest in EB-5 to secure the future of their children.' With F-1 visa processes becoming less predictable—due to delays, stricter social media monitoring, and tighter work permissions—the EB-5 is viewed as a more dependable alternative.
High demand meets limited supply: A visa cap challenge
Despite its advantages, the EB-5 visa has a fixed annual cap. India is allotted approximately 700 EB-5 visas per year, including for family dependents. With over 86,000 Indian students studying in the US in 2024 alone, experts predict rising competition for these limited slots. Legal advisors warn that this increasing demand could eventually lead to longer processing times, which may impact applicants looking for faster pathways to residency.
A premium option for those who can afford it
The EB-5 visa differs significantly from the F-1 student visa. While F-1 is a temporary, non-immigrant visa with limited work flexibility, EB-5 provides a direct route to a Green Card. For those who can afford the investment, the program offers long-term security, fewer restrictions, and faster processing—some green cards are reportedly processed in as little as three months. As political and administrative uncertainty grows, the EB-5 program is emerging as a serious alternative for Indian students looking to secure their future in the United States.
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Time of India
25 minutes ago
- Time of India
No pause on Russian oil imports, India continues imports based on economic rationale
India has not halted oil purchases from Russia in response to the US President's tariff threat and continues to buy based solely on economic considerations, said AS Sahney, Chairman of Indian Oil Corporation (IOC), the country's largest oil firm. Purchase volumes may fluctuate monthly based on the discounts offered on Russian crude grades like Urals. While discounts had previously reached as high as $ 40 per barrel, they have narrowed to just $ 1.5 late last month, resulting in reduced offtake. Discounts have since widened to about $ 2.70. However, India's intent to continue buying Russian oil remains unchanged. India became the largest customer of Russian oil from 2022, after western countries shunned Russian oil and imposed sanctions on Moscow for its invasion of Ukraine. Sahney said refiners like IOC buy crude oil from Russia purely on economic consideration and have not been asked to cut or boost purchase in response to US tariffs, he said. "There is no pause," he said. Russian oil has continued to flow to Indian refiners in July as well as this month. "We continue to buy, purely based on economic considerations, that is to say if the pricing and characteristics of the crude make sense in our scheme of processing, we buy," he told reporters here. "No special effort is being made to either increase or decrease (the import volumes). We are buying crude as per economic considerations," he said. Imports from Russia made up for 22-23 per cent of all the crude oil that IOC refineries processed in the April-June period. US President Donald Trump last week announced an additional 25 per cent tariff on US imports from India -- raising the overall duty to 50 per cent -- as a penalty for the country's continued imports of Russian oil. Since the steep tariffs are likely to hit the $ 40 billion of non-exempt exports that India does to the US, there has been chatter around stopping or curtailing oil imports from Russia. "There are no sanctions on Russian crude," he said. "India has not done anything that violates any sanctions". Separately, Bharat Petroleum Corporation Ltd (BPCL) Director (Finance) Vetsa Ramakrishna Gupta on an investor call said the discounts have narrowed to $ 1.5 per barrel, and led to lower imports last month. In the first quarter, Russian oil made up 34 per cent of BPCL's crude intake and the company hopes to return to a 30-35 per cent ratio as long as there are no sanctions, he said. Before February 2022, Russian crude oil accounted for less than 1 per cent of India's total oil imports. However, after Moscow's invasion of Ukraine, western nations shunned Russian energy, leading to Russian crude being available at discounted rates compared to global benchmarks. Seizing the economic opportunity, India ramped up its purchases, significantly increasing its reliance on Russian oil to meet domestic energy needs. Russian crude oil now meets 30 per cent of the requirement. Sahney said at no time was import of crude oil from Russia sanctioned and so India continued to purchase keeping in mind economic considerations. "Such purchases will continue unless sanctions are imposed," he said. "We have not got any instruction (from the government) to either increase or decrease purchase. We are doing business as usual." About talk of refiners being asked to increase purchases from the US in a bid to placate Trump, IOC Chairman said, "Neither are we being told to buy more nor are we told to buy less from US or any other destination. Economic considerations dictate our actions."


The Hindu
25 minutes ago
- The Hindu
U.S. has no alternative to India in diamonds, say industry leaders
Already grappling with job losses and a slowdown in orders, Gujarat's diamond sector has been dealt another setback as the United States, its largest export destination, raised import duties to 25% with an additional tariff of 25% coming into effect from August 27, taking the total to 50%. The hike, announced by U.S. President Donald Trump, has raised concerns among exporters who warn the rates are 'unsustainable' for long-term trade, and are optimistic about the business. It comes at a time when industry is still struggling with the fallout of the Russia-Ukraine conflict and the growing presence of cheaper lab-grown diamonds in global markets. Despite the grim statistics, some leaders are urging calm. 'This is a temporary phase. The U.S. has no best viable alternative to India for loose and jewellery diamonds,' said Jagdish Khunt, president of the Surat Diamond Association. 'Yes, tariffs are a blow, but it will eventually push prices up in the U.S., and buyers there will have to absorb the difference because sourcing from India remains unavoidable,' he told The Hindu. Industry estimates show that the U.S. alone accounts for more than 30% of India's gem and jewellery exports, making it the single-largest overseas buyer. In Gujarat, where nearly 90% of natural diamonds imported to India are cut and polished, trade bodies say more than one lakh workers have lost jobs since April this year. In May, the Gujarat government rolled out a relief scheme aimed at helping diamond artisans and small units hit by a global slowdown. More than one lakh former workers from the sector have sought assistance under the programme, which offers ₹13,500 per child to support affected families. 'Nearly 90% of India's supply is processed here. What other alternatives do they have? We have the best 'ratnakalakars' (diamond artisans) in the world, and a customer buying diamonds will never compromise on quality,' asks Mr. Khunt. He compared the American affinity for diamonds to the Indian love for gold, noting that just as Indians continue to purchase gold despite soaring prices, U.S. consumers remain steadfast in their preference for diamonds. 'No matter the circumstances, they pick diamonds over gold. We expect the market to steady ahead of Christmas and New Year, with fresh orders starting to flow in,' he said, adding that over 7.5 lakh artisans are working in 3,500 small and large units. Data from the Gem and Jewellery Export Promotion Council (GJEPC), India's apex body for the industry, shows that in the 2024–25 fiscal year, India shipped cut and polished diamonds worth $4.8 billion to the United States. The U.S. market thus accounted for over one-third of the country's total diamond exports, which amounted to $13.2 billion for the year. According to GJEPC, India's rough diamond imports fell sharply in 2024–25 to $9.52 billion, down from $14.26 billion in the previous fiscal. Babu Vaghani, president of the Lab-Grown Diamonds Association, shared Mr. Khunt's optimism, describing the current situation as a 'short-term crisis.' 'Whatever the challenges, we must keep going until Diwali. Even if it means trading on smaller margins, the work has to continue for the sake of the lakhs of people who depend on it for their livelihood,' he said. Mr. Vaghani pointed out that more than half of the artisans outside Surat, particularly in Bhavnagar, Botad, Mehsana, and other districts, are women. 'In rural areas, women play a major role in diamond polishing,' he added.


Indian Express
25 minutes ago
- Indian Express
Independence Day 2025 Share Market Holiday: Are NSE and BSE open or closed today, August 15?
Independence Day Stock Market Holiday 2025: As traders and investors prepare for the forthcoming trading sessions, many are curious whether the Indian stock market is open or closed today, August 15 —marked as Indian Independence Day. This year, it is being observed on Friday, August 15, 2025, resulting in the Indian stock market and commodities market being closed for trading in observance of the 79th Independence Day. Trading in all sectors — stocks, derivatives, and securities lending and borrowing (SLB) — will be suspended on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) today, Friday. Trading will resume across all sectors on Monday, August 18, as Independence Day is an official holiday according to the NSE holiday schedule. This year, in 2025, the Indian stock markets are set to observe 14 holidays along with mandatory closures on the weekends – Saturday and Sunday. Indian stock markets operate from 9:15 AM to 3:30 PM, Monday to Friday, including a pre-opening session from 9:00 AM to 9:15 AM on regular trading days. There are more stock market holidays in August than just Independence Day. In addition to August 15, the BSE and NSE will be closed on August 27 for Ganesh Chaturthi. This means that there will be two trading holidays in August. The prior weekday market holiday occurred on May 1, in observance of Labour Day. According to the RBI Holiday Calendar for 2025, even the public and private banks across India will also be closed today, in observance of the national holiday.