US Government Freezes Green Card Processing for Major Indian IT Firms, Shares Jump Six Percent

US Government has frozen the processing of employment‑based green card applications for employees of major Indian IT services firms, including Tata Consultancy Services, Infosys, Wipro and HCLTech, citing a review of the PERM labor certification system.

Indian IT Companies saw their shares rise sharply after the announcement, with TCS, Infosys, Wipro and HCLTech each gaining as much as six percent on the day, reflecting investor optimism that the pause may be temporary and not affect earnings.

Industry Analysts warn that the suspension could disrupt the pipeline of senior engineers and project managers who rely on permanent residency to stay in the United States, potentially slowing hiring and increasing costs for the firms’ U.S. delivery centers.

Regulatory Review covers eight Indian IT firms in total, as reported by major Indian newspapers, and the Department of Labor has indicated that the PERM suspension will remain until it completes a compliance audit, leaving thousands of Indian professionals in limbo.