GET Stock QuotesNews18 APP
News18 English
»
1-min read

Donald Trump Administration May 'Review' US Govt Contracts Outsourced to Indian IT Giants

At present, Cognizant, Tata Consultancy Services and Infosys are among Indian firms working on US government contracts.

News18.com

Updated:September 28, 2017, 10:38 AM IST
facebookTwittergoogleskypewhatsapp
Donald Trump Administration May 'Review' US Govt Contracts Outsourced to Indian IT Giants
File photo of US President Donald Trump
Loading...
New Delhi: The Donald Trump administration may be on course to “reviewing” contracts given to foreign companies, including Indian giants like TCS and Infosys, sources told CNBC-TV18 on Thursday.

Sources said the Indian companies have been asked to submit a progress report of the current projects outsourced to them by the US government. The contracts will be reviewed over a period of four months, sources added.

The US government contracts account for about 3.2-3.5% of exposure to Indian tech giants.

At present, Cognizant, Tata Consultancy Services and Infosys are among Indian firms working on US government contracts.

This is yet another move in Trump’s efforts to try and keep jobs at home in keeping with his election pitch of ‘Buy American, Hire American’.

In April, Trump had signed an executive order to tighten the rules of the H-1B visa programme to stop "visa abuses".

The H-1B is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise in specialised fields. Indian technology companies depend on it to hire tens of thousands of employees each year for their US operations.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 226.50 -92.70 -29.04
Dewan Housing 350.55 -260.00 -42.58
Reliance 1,217.50 +6.75 +0.56
Axis Bank 599.20 -9.60 -1.58
Tata Steel 625.15 +3.95 +0.64
Company Price Change %Gain
Dewan Housing 351.55 -259.05 -42.43
Yes Bank 227.05 -91.45 -28.71
Maruti Suzuki 8,039.55 -167.45 -2.04
Indiabulls Hsg 1,061.90 -94.60 -8.18
Oracle Fin Serv 4,031.30 -71.85 -1.75
Top Gainers
Company Price Change %Gain
Bharti Infratel 281.20 +10.30 +3.80
BPCL 376.50 +11.45 +3.14
IOC 158.15 +4.60 +3.00
HPCL 258.00 +6.65 +2.65
Hindalco 240.40 +4.75 +2.02
Company Price Change %Gain
ONGC 180.10 +3.45 +1.95
Wipro 337.35 +4.60 +1.38
ITC 303.75 +4.10 +1.37
TCS 2,103.80 +26.90 +1.30
Asian Paints 1,303.10 +13.75 +1.07
Top Losers
Company Price Change %Gain
Yes Bank 226.50 -92.70 -29.04
Indiabulls Hsg 1,062.15 -97.10 -8.38
Bajaj Finance 2,379.40 -120.15 -4.81
Tech Mahindra 738.05 -31.90 -4.14
UPL 665.80 -26.50 -3.83
Company Price Change %Gain
Yes Bank 227.05 -91.45 -28.71
Kotak Mahindra 1,179.65 -47.35 -3.86
Adani Ports 362.00 -10.95 -2.94
IndusInd Bank 1,761.70 -42.90 -2.38
Maruti Suzuki 8,039.55 -167.45 -2.04

Live TV

Loading...
Loading...