US bars Microsoft, Indian IT firms from green card programme; TCS Q2 net profit rises 15%
Tata Consultancy Services has registered a 15% rise in net profit and an 11.2% growth in revenue for the second quarter of the fiscal. In other news, the National Commission for Women’s guidelines for the safety of women passengers seek to make safety a shared responsibility of all stakeholders.
The United States has temporarily halted the application process for green cards for foreign workers at major tech firms like Microsoft, Cognizant, Infosys, TCS, and HCLTech. Vice President J D Vance remarked, "You’re a great American company, but you’ve got to hire great American workers." Meanwhile, India's Prime Minister Narendra Modi is advocating for a universal framework to address cyber frauds and deepfakes.
At the India Mobile Congress, Modi emphasized the need for governments, tech companies, telecom operators, and financial institutions to collaborate on curbing digital frauds. India aims to double its 5G user base to a billion by 2030 and explore the prospects of 6G, according to Communications Minister Jyotiraditya Scindia. Meanwhile, a new study reveals that 47.5% of employees in India's startup ecosystem report low wellbeing, with employees significantly lagging behind investors, ecosystem supporters, and founders.
TCS, India’s largest IT services exporter, saw a 15% increase in net profit and an 11.2% revenue growth during the second quarter of the fiscal. The company's AI revenues surpassed $3 billion. TCS CEO K Krithivasan highlighted the company's success in international growth and securing key deals like those with Porsche and Best Buy.
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