US visa curbs on Tata, Infosys and Wipro should not affect talent mobility, says Nasscom

GIFT Nifty indicated a 100-point gain for Indian equities after a prior session decline. Tata Consultancy Services (TCS) reported Q2 earnings with a 4% profit increase and $3.1B in AI revenue. U.S. labor certification processing for IT firms is suspended. RBI to conduct a 10-day liquidity auction. Brent crude fell 0.48% to $103.62. TCS, JSW Steel, and P N Gadgil Jewellers provided business updates.

The U.S. suspended Microsoft, Adobe, and other tech firms from a visa program, accusing them of abuse. The companies, including Cognizant, Infosys, and Tata, were targeted for alleged misuse of a system for sponsoring foreign workers. Microsoft was specifically criticized by Vice President Vance.

The US suspended major tech firms, including TCS, Infosys, Wipro, and HCL, from the PERM program, impacting Green Card applications for Indian professionals. The suspension may lead to delays, hiring shifts, and increased scrutiny. H-1B visas remain unaffected, but workers face uncertainty about permanent residency.

The White House barred Microsoft and other companies from the PERM program, accusing them of abusing it to replace U.S. workers. Labor Secretary Keith Sonderling announced the suspension, citing investigations. Vice President JD Vance criticized Microsoft for cutting 6,000 U.S. jobs while securing 6,200 H-1B visas and 3,000 green cards for foreign workers. Microsoft denied the allegations, stating most visa applications were for existing employees.

The US suspended eight tech firms, including Infosys, TCS, Wipro, HCL, Cognizant, Capgemini, Microsoft, and Adobe, from a green card program, citing concerns over visa misuse and fraud. The Labor Department will not process new or pending PERM applications involving these companies. Microsoft denies visa fraud claims, stating 80% of its H-1B filings were for existing staff.

The US suspended Microsoft, Adobe, and several IT outsourcers from a key green-card program, citing fraud concerns. Microsoft was accused of abusing the system, while the companies denied wrongdoing. The move may impact permanent residency paths for foreign tech workers. Nine universities, including Harvard and Yale, are also under investigation for visa misuse.