India's IT Industry on Edge as U.S. Proposes Tax on Outsourcing

The Indian information technology (IT) sector, a cornerstone of the country's economy, is grappling with significant unease following reports of a proposed U.S. tax on outsourcing. This potential policy shift, aimed at curbing the offshoring of jobs and services, could have far-reaching implications for India's $200 billion-plus IT and business process management (BPM) industry, which relies heavily on U.S. clients for nearly 60-65% of its revenue.