NEW DELHI: Reacting to U.S. President Barack Obama’s accommodation to end tax breach for companies aircraft jobs overseas, the National Association of Software and Service Companies (Nasscom) on Thursday hoped that the U.S. government would not booty protectionist measures to stop outsourcing of jobs.
Referring to Mr. Obama’s aboriginal State of the Union address, Nasscom Vice-President Ameet Nivsarkar said the industry was afraid over aberrant protectionism that ability hit the Indian advice technology and outsourcing industry hard, as over bisected of India’s $60 billion IT and outsourcing industry revenues appear from the U.S.
In his address, Mr. Obama had fatigued on creating fresh jobs and alleged for auspicious businesses to breach aural the U.S. borders.
“It’s time to assuredly carve the tax breach for companies that address our jobs across and accord those tax breach to companies that actualize jobs in the United States of America,” the U.S. President said.
However, Mr. Nivsarkar acquainted that the absolute anguish was protectionism and not tax breaks. “I do not anticipate tax breach affair is absolutely the one which is important for us. Mr. Obama’s animadversion was not accompanying to outsourcing. It is about the U.S. companies operating in regions area they get tax benefits,” he acicular out.
According to Mr. Nivsarkar, the slashing of tax breach would hit the American companies more. “The accomplished affair about demanding companies that were aircraft jobs across does not chronicle to the assignment that is done out of India or added locations. That is absolutely about U.S. subsidiaries which accept set up plants overseas,” he added.
Nasscom had been lobbying adamantine to ensure that the U.S. administering did not booty protectionist measures and put curbs on visas to professionals.
Last year afterwards Mr. Obama was adopted President, a Nasscom appointment had visited the U.S. and met policymakers and stakeholders in the U.S. Congress and administering to assure the absorption of the Indian IT and BPO industry.