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Indian IT companies hope Biden will open up tech visa policy

Fate of $191bn industry hinges on H-1B program in US, by far largest export market

The Indian IT industry is hoping that Biden's policy on U.S. H-1B visas will be less restrictive than it has been under his predecessor Donald Trump. (Source photos by AP and Reuters) 

MUMBAI -- India's $191 billion information technology sector is keeping a close watch on U.S. President-elect Joe Biden's stances on immigrant workers and domestic hiring, as well as a proposed corporate tax increase.

Stocks in India's leading IT companies, such as Tata Consultancy Services, Infosys, HCL Technologies, Wipro and Tech Mahindra, have generally been rallying since the vote count showed Biden ahead, led by Infosys, which saw its stock price rise nearly 6% from Nov. 3, the day of the election.

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