The net worth of all the Ever since Trump government took over, net worth of IT tycoons in India went down as clamour for H1-B visa reform and protectionist stance gained steam.
"Whether these changes are a precursor for more radical measures is what is worrying companies," DD Mishra, a Pune-based research director at Gartner, told Bloomberg.
“Infosys, which reports earnings April 13, may have the most at stake. The Bangalore-based company is most vulnerable to U.S. visa reforms because it has the lowest percentage of local hires in the U.S.,” stated Goldman Sachs analysts Sumeet Jain and Saurabh Thadani.
Bloomberg reported information technology is the largest employer in the private sector, providing a livelihood to nearly 4 million, and contributes about 9 percent of gross domestic product. India's software and services exports total about $110 billion, with nearly two thirds of that revenue coming from the U.S.
"Difficulties in getting visas or rising salaries of H-1B employees will have a material impact on companies," Rostow Ravanan, chief executive officer of Mindtree Ltd., a Bangalore-based outsourcer that uses hundreds of H-1B visas every year, told Bloomberg.
Ever since the protectionist stance, Indian IT companies have been devising plans to counter the heat.
Nitin Rakesh, chief executive officer of tech services provider Mphasis Ltd. is optimistic. He told Bloomberg the industry has gone through four or five reincarnations since the outsourcing business began. A Trump crackdown may lead to more innovation in the model.