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Indian IT industry faces twin challenges of Trump, automation
Automation and the new US administration were the big unknowns at the Indian tech sector's annual shindig this week, with machines threatening to take away thousands of jobs and concerns over possible visa rule changes in the key American market. But senior executives from the USD 150 billion industry, which rose to prominence at the turn of the century by helping Western firms solve the "Y2K" bug, said companies with skilled English-speaking staff and low costs could not be written off yet.
The sector, led by Tata Consultancy Services , Infosys Ltd and Wipro Ltd , is lobbying hard as the new US administration under President Donald Trump considers putting in place visa restrictions. The administration may also raise salaries paid to H1-B visa holders, a move that could significantly increase costs for IT companies that are already facing pressure on margins.