US green-card programme suspension: What happens to your 401(k), stocks and property if you return India?
Executive Brief • Key Highlights
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- ✓The Trump administration on Thursday suspended Microsoft, Infosys, Tata, Wipro and other firms from the PERM labour-certification programme.
- ✓This move disrupts the green-card pathway for many workers.
- ✓Siddharth Batra said, "What has been suspended is the PERM process, which is a crucial step in moving towards permanent residency."
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- BUSINESS
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- mint
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- 3 Minute(s)
- Market Focus
- India Economy
The US has suspended Microsoft, Infosys, Tata, Wipro and other companies from the PERM labour-certification programme. Here's what it means for Indians returning home.
The Trump administration on Thursday suspended several technology giants and IT outsourcing companies, including Microsoft, Infosys, Cognizant, Tata, Wipro, HCL Technologies, Capgemini and Adobe, from the US government's permanent labour certification programme or PERM.
PERM is an important route through which employers sponsor eligible foreign workers for permanent residency in the United States. The suspension does not automatically revoke existing H-1b visas, but it could disrupt the green-card pathway for workers whose applications are affected.
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