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If HIRE Bill in US becomes reality, it will light a fire in Indian economy: Congress
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....f HIRE Bill in US becomes reality, it will light a fire in Indian economy: Congress<BR>PTI News<BR>Dated:- 4-11-2025<BR>PTI<BR>New Delhi, Nov 4 (PTI) The Congress on Tuesday said a bill introduced in the US Senate proposing a 25 per cent tax on any American person making an outsourcing payment will "light a fire in the Indian economy" if it becomes a reality. The opposition party said the bill r....
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....eflects a growing mindset in the US that while blue-collar jobs were "lost" to China, white-collar jobs should not be "lost to India." Congress general secretary in-charge communications Jairam Ramesh made the remarks, referring to the Halting International Relocation of Employment Act, or HIRE Act Bill, introduced on October 6 by Senator Bernie Moreno of Ohio. The bill has been referred to th....
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....e Senate Committee on Finance, he said on X. The bill proposes a 25 per cent tax on any US person making an outsourcing payment, defined as "any money paid by a US company or taxpayer to a foreign person whose work benefits consumers in the United States," he said. The bill has a direct and deep impact on India's IT services, BPO, consulting and GCCs (global capability centres), Ramesh said. ....
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.... Other countries like Ireland, Israel, and the Philippines too will be impacted but the maximum effect will be on India's exports of services which has been a marked success story over the past quarter of a century, he said. Ramesh said the bill in its present form may or may not pass, and may get modified. "It may just linger. But one thing is clear - the Bill reflects a growing mindset in th....
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....e US that while blue-collar jobs were 'lost' to China, white-collar jobs should not be 'lost to India'," he claimed. Nobody expected a year ago that the India-US economic relationship would take so many knocks - of which the HIRE Bill is another reflection, Ramesh said. "If ever HIRE becomes a reality it will light a fire in the Indian economy which may have to face a new normal in relation to....
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.... the US," the Congress leader said. The proposed HIRE Act, introduced by Senator Bernie Moreno, if passed, will curb outsourcing and promote domestic employment by imposing a 25 per cent levy on payments made by American companies to foreign workers for services benefiting US consumers. Ramesh also shared a link to the provisions of the bill. PTI ASK VN VN<BR> News - Press release - PIB....