India’s information technology (IT) sector is upbeat about President Donald Trump’s return to the Oval Office. The mood is high despite concerns over potential changes to US immigration laws. Immigration experts and analysts have warned that Trump may go stricter on H-1B and other immigration laws during his second tenure as the US President.
Donald Trump’s previous term saw an increase in salaries for H1B workers as well as visa fee. In this term, the Trump administration may reconsider the annual allotment of H1B work visas, currently capped at 85,000. H1B applications could face tougher scrutiny, as denial rates under the previous Trump administration reached an all-time high of 24%. The duration and eligibility for Optional Practical Training (OPT) for international students may also come under review.
Despite these concerns, India’s IT companies celebrated the Republican victory as tech stocks led the rally on India’s benchmark stock indices. IT stocks appreciated sharply, fueling a rally in the benchmark indices after it became clear that Donald Trump will take over as the next US president for the second term. Shares of Tata Consultancy Services (TCS) surged 4.21 per cent, Infosys jumped 4.02 per cent, Tech Mahindra soared 3.85 per cent, and HCL Technologies climbed 3.71 per cent on the Bombay Stock Exchange (BSE). Also, Persistent Systems zoomed 5.86 per cent, LTIMindtree jumped 4.75 percent, and Wipro advanced 3.75 per cent.
So what is it that is pepping up…
