Reported about 6 hours ago
India's extensive IT sector is bracing for potential turmoil as the US introduces a proposed 25% tax on companies utilizing foreign outsourcing services, which could hinder contract negotiations and delay business decisions. The sector, integral to the country's economy, is already struggling with slow revenue growth amid inflation and a shifting geopolitical landscape, leading to concerns about its competitiveness and the potential for increased lobbying and legal challenges if the proposal progresses.
Source: YAHOO