Indian IT Sector on Edge as US Proposes 25% Outsourcing Tax Under HIRE Act
India’s $225 billion IT services industry is bracing for a potential disruption as the United States considers imposing a 25% outsourcing tax under the newly proposed Halting International Relocation of Employment (HIRE) Act. Introduced by Republican Senator Bernie Moreno, the bill aims to penalize US companies that outsource jobs overseas, particularly targeting service payments made…