India calls Vance's 'indentured servants' remark deeply offensive
India's foreign ministry condemned US Vice President JD Vance's description of foreign workers hired by Microsoft as "indentured servants" as deeply offensive. The Labor Department had suspended eight companies, including Microsoft, Infosys and TCS, from the PERM green card sponsorship programme.
- Labor Department suspended PERM for Microsoft, Adobe, Cognizant, Infosys, TCS, Wipro, HCL and Capgemini
- Vance said Microsoft replaced laid-off American workers with lower-paid foreign ones
- Microsoft is the biggest PERM user: 3,161 applications ruled on in fiscal year to September 2025
- Indian IT stocks rose: TCS up 5.5%, Wipro 3.2%, HCL 2.9%, Infosys 2.7%
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