The Donald Trump administration may review contracts given to foreign companies, including Indian giants like TCS and Infosys.
According to News18, the Indian companies have been asked to submit a progress report of the current projects outsourced to them by the US government. The contracts will be reviewed over a period of four months.
Currently, the Indian IT industry, which exports software and services worth $108 billion, gets about 65 per cent of it from the US market, the world's largest. At present, Cognizant, Tata Consultancy Services and Infosys are among Indian firms working on US government contracts.
Earlier today, Donald Trump's new plan for broad-based income tax cuts debuted to mixed reviews, with industry cheering while economists cautioned it could increase deficits with only modest gains in growth.
Earlier in the month of April, Trump had signed an executive order to tighten the rules of the H-1B visa programme to stop "visa abuses".