Probably the first I.T. company ever, Wipro has listed Donald Trump’s business policies as adverse to business. It said some of Trump’s policies as a greater risk in conducting the business due to “greater restrictions on free trade” among others.
Citing the above, it said the policies has led to a general and significant increases on tariffs on goods imported into the U.S. It further added “Changes in US social, political, regulatory and economic conditions or in laws and policies governing foreign trade, manufacturing, development and investment in the territories and countries where we currently operate could adversely affect our business.”
Wipro, the Bengaluru based firm has earned 52% from the Americas including the US with reported net sales of Rs. 55,420.9 crore in the fiscal ended March 31, 2017.
Mr. Trump has taken several steps, including H-1B visa restrictions that raised concerns in the Indian IT sector which has put on restrictions stating that they should never be used to replace American workers and must be given only to the most skilled and highest paid applicants. Trump Administration also accused Indian IT companies for stealing US jobs while rendering many of the Americans jobless.
The company also noted on other factors mentioning “not within our control that could cause significant variations in our results in any particular quarter”, include “political uncertainties or changes in regulations in India, the United States and other countries that we operate in.”
It is expected to raise the workforce by employing Americans significantly by June.