Wipro's Premji Sees Growth for India IT Under Trump

Wipro's Executive Chairman, Rishad Premji, expressed optimism regarding Donald Trump's anticipated second term, stating it is likely to be 'pro-business and pro-growth' for the tech services industry. He highlighted potential corporate tax cuts and deregulation as factors that could stimulate business growth, particularly benefiting India's $254 billion IT services sector, which heavily relies on the U.S. market. However, Premji also cautioned about immigration policies and their impact on the sector, as stricter U.S. outsourcing regulations and H-1B visa restrictions could pose challenges. Despite these concerns, financial analysts, including JPMorgan, predict a positive overall impact on the industry, pointing to increased enterprise technology spending as a potential outcome. The context of this optimism is rooted in the recent struggles of IT firms facing reduced client spending due to macroeconomic pressures. Premji urged the industry to remain vigilant regarding inflation and tariff implications.