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US Immigration Crackdown Slashes Infosys and Wipro ADRs by Nearly Three Percent
Reported by Neha Sharma (Staff Writer) · Economic Times - Markets ·
Confirmed by a second source: Livemint - Markets
Infosys, Wipro ADRs fall nearly 3% after TCS earnings, US crackdown on H-1B-linked green card programme. Infosys and Wipro ADRs fell nearly 3% in US trading as investors assessed TCS's quarterly results and fresh US immigration restrictions. Concerns over technology spending, AI disruption and tighter employment-based immigration added pressure to Indian IT stocks. Infosys and Wipro ADRs declined after TCS results and new US immigration restrictions renewed concerns over Indian IT companies' growth outlook. As on 08 Oct 2026, 09:09 PM IST (What's moving Sensex and Nifty Track latest market news , stock tips , Budget 2025 , Share Market on Budget 2025 and expert advice , on ETMarkets . Also, ET
ExplainerWhy this matters
What Happened
The US administration suspended major international IT outsourcing companies from the Permanent Labour Certification Programme, blocking them from sponsoring green cards for H-1B visa holders.
Why It Matters
This restriction directly threatens the profit margins and talent mobility of Indian tech giants that rely heavily on the US market for more than half of their revenue. Tighter immigration rules force these corporations to accelerate local hiring in America, altering decades-old business models built on offshore delivery.
What Happens Next
Industry leaders will likely reevaluate their US workforce strategies and legal options while monitoring potential broader curbs on work visas and international student programs.
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Photo: Wikimedia CommonsBusinessExplainerVerified — Confirmed by a second source: Economic Times - MarketsMajor
Major IT Firms Suspended From US Green Card Program As Tech Stocks Slide
Reported by Varun Krishnan (Senior Writer) · Livemint - Markets ·
