India, Sept. 20 -- US President Donald Trump's sudden and potentially fatal blow to the H-1B visa regime - by which mostly Indian techies and other high-skilled employees fulfilled their American dreams - may just be the first punch in a double blow. After the prohibitive $100,000 annual fee on H-1B visas, the next shock to fear for the Indian IT sector is a proposal for 25% tax on US firms' payments to foreign outsourcing companies.

So far, the tax spectre is only a Bill, a proposed legislation, introduced in the US Senate early September by Trump's party-mate Bernie Moreno. Called the Halting International Relocation of Employment (HIRE) Act, it has the same argument as Trump's move to put a prohibitive $100,000 fee on H-1B visa: that ...