Ignoring the concerns of Corporate America and India, the US President Barack Obama has signed the new Border Security Bill proposing a steep hike in some categories of H-1B and L-1 visa fees. It is expected to badly hit the Indian IT industry, which may have to shell out an additional $250 million annually for the next five years due to the hike.The money raised by this increase would be used to strengthen security along the porous US-Mexico border by deploying an additional 1,500 National Guards, unmanned drones and by taking other measures.The Senate held a rare meeting coming out of its recess to approve the Bill unanimously, which has already been approved by the House of Representatives.A summary of a Senate version of the Bill named Indian firms Wipro, Tata, Infosys and Satyam, which use hundreds of these visas for their employees going to the United States to work at their clients' locations as technicians and engineers.Commerce and Industry Minister Anand Sharma in a communication to the US Trade Representative Ron Kirk has said the visa fee hike was a discriminatory step that would hurt the interest of Indian companies operating in that country.India's software industry body Nasscom said the US Border Security Bill had logical flaws and was discriminatory in nature. Nasscom President Som Mittal told the media that it shows that Indian IT industry was posing a significant competition to the US companies.Top industry body CII has also termed the US move as protectionist, which could be detrimental to the economic interests of both countries.