He wants his company’s US earnings to make up the lion’s share in three years’ time.
Other firms are also optimistic about Trump 2.0.
Rishad Premji, executive chairman of Wipro – one of India’s biggest IT companies – has said that the incoming president will be “pro-business and pro-growth”, and that this will benefit India’s tech services industry.
IT companies that focus on outsourcing from the US and therefore earn in American dollars also hope to reap the rewards of a stronger US currency.
Such a boost is much-needed, as analysts have said that recent quarters have seen American companies holding back on spending amid inflationary and economic concerns.
This comes as India’s tech sector is expanding in areas including AI and semiconductors.
BOOST FOR INDIAN STARTUPS
Analysts said that the Trump presidency and his negative stance on China could help to divert funding to India and help startups grow.
Trump previously said he would end China’s most-favoured-nation trading status and slap tariffs on Chinese imports of over 60 per cent – much higher than those imposed during his first term.
“India has become and remains one of the most preferred destinations for global capital. That is only likely to continue with the arrival of Trump. In fact that direction of flow is likely to get more strongly routed towards India,” said managing director of Mumbai-based Bexley Advisors Utkarsh Sinha
However, he cautioned that Trump is a “wildcard”.
Companies including Ceinsys which send workers to the US are worried about Trump’s position on immigration. Their concerns are not unfounded – IT firms had to adapt during Trump’s first term between 2017 and 2021, when visas widely used by the industry became tougher to secure.
Source: CNA
