IT services providers appear to be happy with Donald Trump’s victory, barring concerns about the prospect of stricter H1-B visa regulations. They expect that his policies will increase businesses’ discretionary spending.
According to analysts, the United States still has a lot of work to do in under-penetrated industries like banking and healthcare. Spending on IT projects is expected to increase as manufacturing faces difficulties as well. The budget for the upcoming year is anticipated to be finalized within the next two to three months, and the majority of businesses are already in talks with IT companies about it.
As the “key lynchpin” of the US-India bilateral interaction, the IT industry group, Nasscom, stated on Wednesday that it looks forward to collaborating closely with the next US administration to fortify the vibrant technology alliance.
According to a statement from Nasscom, the US is the biggest market for India’s $254 billion tech sector, which contributes $80 billion to the US GDP overall. Notably, the sector is essential to helping US businesses and bolstering the US economy.
On the other hand, more than 1,000 US companies are driving innovation and utilizing India’s digital infrastructure to produce competitive solutions, making it a top destination for American enterprises, according to Nasscom.
