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Obama tax break announcement doesn’t affect India

Obama tax break announcement doesn’t affect India
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First Published: Fri, Jan 29 2010. 05 05 PM IST
Updated: Fri, Jan 29 2010. 05 05 PM IST
On Thursday, US President Barack Obama announced that he would end tax breaks to US firms that shipped jobs out of the nation.
Over 50 percent of India’s $60 billion outsourcing and IT industry revenues comes from US companies and the President’s announcement has triggered concern that Indian IT companies could be hit hard.
The National Association of Software and Service Companies is of a different opinion however. Vice President Ameet Nivsarkar says that the move does not affect Indian companies, but rather US companies operating in regions that give them tax benefits.
Listen to Ameet Nivsarkar talk about what Obama’s recent announcement means for India. Download here...
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First Published: Fri, Jan 29 2010. 05 05 PM IST