US Jobs Act Will Likely Curtail India’s Technology Outsourcing Sector, Says Moodys

Moody’s Investors Service said today in a statement that a proposed US law to offer tax breaks to businesses hiring locally would likely curtail growth in India’s technology outsourcing sector.The legislation to which they’re referring would offer a 20% tax credit to businesses for switching outsourced jobs back to the U.S. It discourages companies from moving work overseas. India depends on North America for more than half of its revenue in outsourcing. For more updates, follow us on Twitter @FNNOnline.