US HIRE Act Explained: Tax On Outsourcing? The Real Impact On Indian IT Sector: Who Will It Hurt?

The US has unveiled a new piece of legislation that could hurt the $250 billion IT services industry. The Halting International Relocation of Employment or HIRE act was introduced in the US senate earlier this month by Republican Senator Bernie Moreno of Ohio. So what is this HIRE act and how bad is it for the Indian IT services sector, Pallavi Sharma explains.