Highlights – After imposing a 50% tax on goods exported from India to the US, US President Donald Trump is now eyeing Bengaluru. Donald Trump’s advisor has also criticized India for buying oil from Russia.
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After imposing a 50% tax on goods coming from India, US President Donald Trump is now focusing on India’s IT services and tech workers. It is being said that Trump is preparing to give a big blow to the Indian economy. If this tax is implemented, then it will have a serious impact on India’s IT hub Bengaluru. India supplies information technology services worth Rs 420,000 crore to the US every year. Most of this comes from Bengaluru, the IT capital of Karnataka. So if Trump imposes higher taxes on the IT and BPO sectors, then Karnataka will suffer a big loss.
A person named Jack Posobiec posted that services supplied to the US from abroad should be taxed like goods. Trump’s trade adviser Peter Navarro shared the post, which started the discussion. The claim is that IT services, workers working abroad and outsourcing should be taxed.
People close to Trump are considering slowing down India’s progress by imposing higher fees on people working on H-1B visas, green cards and temporary visas. According to reports, the Trump government is also planning to impose a tax on money sent back to their country by Indians living in the US. If this tax is implemented, then India’s human resources, engineers, coders and students will suffer a lot. This will shake the foundation of the international outsourcing industry. Indian IT companies like Infosys, TCS, Wipro, Cognizant, HCL are the biggest sponsors of H-1B visas. Indian companies provide the largest number of IT services in the US.
Trump’s trade adviser Peter Navarro has once again targeted India over its oil imports from Russia. He said that the entire country is suffering from the loss of oil from Russia, but only the rich are benefiting. It is important to stop this. The statement came after Modi’s talks with Xi Jinping and Putin at the Shanghai Summit. Peter’s statement was condemned by all parties in India.
