Explore Business Standard
IT sector cheers rejection of outsourcing bill
The rejection of the Outsourcing Bill in the US Senate on September 28, that would have stopped tax concessions to American companies that resorted to outsourcing of their jobs, has brought cheer to the Indian IT sector. The failure to get the anti-outsourcing bill the 60 votes in the Senate is obviously good news for India's IT industry, which exports services worth $50 billion and the US alone accounts for 60 per cent of that.