Wipro formally lists Trump as a potential threat

For the first time in years, an IT company has listed a US president as a potential threat to its business in its annual filing with the US Securities and Exchange Commission.

"Significant developments stemming from the recent US presidential election could have a material adverse effect on our business," Wipro, the Bengaluru-headquartered IT giant, has said in its filing. "On November 8, 2016, Mr Donald J Trump was elected the next president of the United States. As a candidate President Trump and his administration expressed support for policies impacting existing trade agreements, like North America Free Trade Agreement (NAFTA), and proposed trade agreements, and promoting greater restrictions on free trade generally and significant increases on tariffs on goods imported into the United States," it added.

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In the list of risk factors, a company lists everything that could hurt its operations, revenue and profit, and is free to include geopolitical instability and even terrorist attacks.

Indian IT companies have been haunted by President Trump's fierce swing of protectionism, being forced to increase their hiring onsite and lowering their reliance on work visa for Indian employees to work in the US.


As per Wipro, by the end of the first quarter of this fiscal, over 50% of its US employees would be local American citizens.