Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/hindustandot.com/site/web/wp-includes/functions.php on line 6114
Trump Victory: Opportunities and challenges for tech sector | Hindustan Dot
World News

Trump Victory: Opportunities and challenges for tech sector

Analysts and experts said there were many ‘ifs and buts’ regarding the opportunities for Indian tech firms. The $245 billion Indian tech sector, employing about 5.4 million people, is cautiously optimistic about Donald Trump’s resounding victory as the next US President.

Trump’s return is expected to boost increased spending by US firms, hence the possibility of more revenue for Indian tech companies. This was reflected in the stock markets, with the IT Index rallying over four percent, led by Infosys and TCS shares, which jumped over four percent each.

Analysts and experts said there are several ‘ifs and buts’ regarding the opportunities for Indian tech firms. If the Trump administration’s past record is anything to go by, Indian technology firms are likely to benefit from Trump’s new plans, while holders of H1-B visas may encounter some uncertainties.

Concerns over Trump’s re-election regarding tougher H1-B visas may have little impact on Indian IT service companies. Over the last few weeks, Indian IT service companies have corrected, probably factoring some of this impact due to re-election, said an analyst.

Manish Bandhari, the Founder, CEO, and portfolio manager at Vallum Capital Advisors, said that increased IT investments would benefit both the US and Indian IT sectors. However, offshoring may face difficulties if Trump induces more jobs in the US.

A cut in corporate tax by Trump is likely to attract more business for Indian tech companies. IT companies grew at a CAGR of 13 percent during 2016-2020, and the IT index generated a return of 45 percent during Trump’s first term despite challenges on visas and offshoring, he said.

Source
The Indian Express

HD News Desk

From local issues to national events and global affairs, Hindustan Dot's news desk covers the latest news and developments from India and the world.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button