‘Steps announced do not advance shared ambitions of both countries’: India on US Department of Labour’s announcement

India responded to the US Department of Labour's suspension of the PERM program for certain companies, noting it impacts Green Card processes but not H-1B visas. The MEA criticized the move, stating it harms mutual interests. Affected companies include Infosys, Tata, Wipro, HCL, Cognizant, Capgemini, Microsoft, and Adobe. US officials cited ongoing investigations and alleged visa fraud.

Original reporting
Published Oct 9, 2026, 8:28 AM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Oct 9, 2026, 9:10 AM UTC. Informational, not investment advice.
How this was made
AlphAI summarizes source reporting and applies a structured AI analysis for relevance, timing, sentiment and ticker impact. Always verify material claims with the original publisher.
‘Steps announced do not advance shared ambitions of both countries’: India on US Department of Labour’s announcement — source image
Decision brief

The 30-second read

$INFYBearishMed
01

Why it matters

Regulatory action directly targets the green‑card process for foreign workers, creating uncertainty for affected companies' US talent pipelines and potentially pressuring their stock prices.

02

Market read

The suspension could lead to short‑term downside risk for listed IT services firms, especially those heavily reliant on foreign talent in the US.

03

What to watch

Potential for companies to shift to alternative visa programs or increase domestic hiring.

Relevance 7/10Novelty 8/10Timing: today

Background

The US Department of Labor announced a suspension of PERM applications for several major IT outsourcing and software firms, citing ongoing investigations into alleged visa fraud.

Company-level read

Ticker impact

$INFYBearishHigh confidence
Context

US Dept of Labor suspended PERM applications for Infosys, affecting its green‑card pipeline for US employees.

Expected impact

likely pressure as market prices in the PERM suspension risk

Evidence & confidence

Regulatory block on a key immigration process directly impacts Infosys' US staffing strategy.

$WITBearishHigh confidence
Context

Wipro (WIT) is listed as a company whose PERM applications are suspended, affecting its US hiring plans.

Expected impact

likely pressure as market factors in immigration restrictions

Evidence & confidence

Direct regulatory impact on Wipro's US talent acquisition.

$CTSHBearishHigh confidence
Context

Cognizant (CTSH) is among firms hit by the PERM suspension, limiting its ability to secure green cards for US staff.

Expected impact

likely pressure as investors factor in hiring constraints

Evidence & confidence

PERM suspension directly affects Cognizant's staffing model.

$MSFTBearishMedium confidence
Context

Microsoft (MSFT) is named in the PERM suspension, potentially affecting its ability to sponsor green cards for US hires.

Expected impact

moderate pressure as investors watch immigration constraints

Evidence & confidence

Regulatory action touches Microsoft’s hiring, though scale may limit effect.

$ADBEBearishMedium confidence
Context

Adobe (ADBE) is also listed among firms barred from PERM filings, raising concerns over its US talent acquisition.

Expected impact

moderate pressure as market assesses impact

Evidence & confidence

Regulatory suspension may affect Adobe’s staffing plans.

Market effects

IT services and software firms may see broader hiring‑cost concerns.

US tech stocks could face short‑term pressure amid immigration crackdown.

International outsourcing firms may experience valuation adjustments worldwide.

Counterpoint

Large caps like Microsoft may absorb the impact without significant stock moves.

Key entities

  • US Department of Labor

    Announced the PERM suspension.

  • Keith Sonderling

    Labour Secretary who communicated the suspension.

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