Tech Mahindra's warns that Trump’s visa policies could hurt IT industry

Vineet Nayyar, Tech Mahindra’s vice chairman, issued a warning that visa policies of Donald Trump, the US President, could harm the IT industry. He made this comment as earnings of his company, one of the top five Indian IT services companies, fell and its share price declined the most in close to two years. Tech Mahindra’s net income for the fourth quarter was $91 million and its shares shed about 17 percent on the news. The protectionist policies of the US are making the visa policies tougher for migrant workers and the heat is being felt by outsourcing companies such as Tech Mahindra and others. Bloomberg quotes Nayyar as saying that Trump’s bid to curb immigration will hit the IT sector. Meanwhile, the other Indian IT majors such as Cognizant Technology Solutions and others have been retrenching workers in India.  In fact, some of IT workers are mulling forming trade unions for IT industry. Nayyar added that these were disturbing times politically and economically of both Europe and the US. But the demand has not lessened for technological services. He concluded by saying that with their resilience, they would be able to stay afloat during the tough times. Countries like Canada and Australia are, however, coming to the rescue of the IT industry and, hopefully, Trump will temper his visa policies as they would unfeasible in the long term. If you are looking to migrate abroad, get in touch with Y-Axis, a leading immigration consultancy company, to apply for a visa from one of its 35 offices.