Zerodha’s Dinesh Pai sees an upside in US green card suspension for TCS, Infosys, Wipro

The US government's recent suspension of eight technology and IT services companies, including TCS, Infosys, and Wipro, from its green card labor certification program has raised concerns among Indian professionals in America about their long-term prospects. Dinesh Pai, a representative from Zerodha, sees potential benefits for India in the wake of this decision. In a recent post on X, Pai argued that if US companies are unable to bring talent to the US, they might shift their operations to India instead.

The green card suspension, announced on October 8 by US Vice President JD Vance and Labor Secretary Keith Sonderling, affects the PERM labor certification program, which employers must clear before sponsoring a foreign worker for a green card. The eight companies targeted by the suspension include TCS, Infosys, Wipro, and HCL Technologies, along with Microsoft, Adobe, Cognizant, and Capgemini. The US Department of Labor will no longer accept new or process pending applications from these companies under the PERM program.

While Pai acknowledges the downside of fewer high-earning Indians settling in the US, which could shrink the annual remittances of about $125 billion, he sees an upside in the form of Global Capability Centres (GCCs) in India. Currently, India hosts over 2,100 GCCs that employ about 2.4 million people. Pai believes these centers will expand further in India, and more top engineering talent will choose to stay and build Indian companies and AI startups rather than face visa uncertainty abroad. He concluded his post by asking his followers to suggest other potential benefits.