US Prez Donald Trumps administration, regulations may have adverse impact on its growth, says Wipro
Indias homegrown IT major Wipro in its filing to the US Securities and Exchange Commission said the US president Donald Trumps administration and regulations could be a potential threat to its growth.
Highlights:
1. Trump's legislative proposals if passed and signed into law, could add further costs or restrictions on some of the high-skilled temporary worker categories, says Wipro
2. Legislations to increase our cost of doing business in the US further, it said.
India's third-largest software services company Wipro said the US president Donald Trump's administration and his regulations could be a potential threat to its growth, Business Standard reported.
This latest development comes at a time when IT companies like Tata Consultancy Services (TCS), Infosys, HCL Technologies, others are facing pressure from the Trump's protectionist measures whereby forcing them to hire American locals and cut down their dependence on H-1B visas.
Wipro for the first time said “developments stemming from the recent US Presidential election could have a material adverse effect” on its growth, cited the report.
Wipro talked about this political uncertainty in its filing to the US Securities and Exchange Commission, it said.
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