Technology · India Bureau
Indian IT stocks surge despite Trump administration visa curbs
Major Indian information technology companies extended gains on Friday as market sentiment remained positive, with TCS, Infosys and HCLTech among the gainers. The rally came even as the U.S. administration suspended eight major technology firms from participating in the PERM green card sponsorship programme.
LSN India ·
Indian IT shares traded in positive territory on Friday, defying headwinds from recent U.S. policy actions. Tata Consultancy Services, Infosys and HCLTech—the country's leading IT services exporters—were among the key stocks advancing during the session.
The gains underscored investor confidence in India's technology sector despite escalating scrutiny from Washington. The U.S. administration has suspended participation in the PERM programme, a pathway to permanent residency, for eight major technology companies, a move that could affect visa sponsorship practices across the global tech industry.
The PERM programme suspension targets large technology firms and is seen as part of broader restrictions on immigration policies affecting the sector. Indian IT companies are among the world's largest providers of technology services to U.S. enterprises and have historically relied on visa-sponsored talent mobility to service global clients.
Analysts said the market response suggested investors viewed current valuations as attractive despite the regulatory headwinds. The Indian IT sector continues to derive significant revenue from American clients and operations, making policy shifts in Washington closely watched by traders and institutional investors in Mumbai and other financial centres.