India Tech Giant Warns Trump’s ‘Radical Shift’ to Hurt Industry

The vice chairman at Tech Mahindra, one of India’s largest technology services companies warned that U.S. President Donald Trump’s visa policies will damage the industry as his company reported weak earnings and his stock fell the most in almost two years. From a report: Tech Mahindra said net income was 5.9 billion rupees ($91 million) in the fourth quarter, compared with the average analyst estimate of 7.8 billion, according to estimates compiled by Bloomberg. The U.S. is tightening the criteria for visa programs that Tech Mahindra and other outsourcing companies use to bring skilled foreign workers into the country. Trump and other politicians have criticized the programs for hurting American workers and allowing companies to use cheaper employees from abroad. Tech services companies, including Cognizant Technology Solutions, have been cutting positions in India. Some workers have blamed Trump for prompting the job losses and exacerbating problems in the industry.


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