Former RBI Governor Raghuram Rajan flagged the looming threat of the proposed US' Help In-sourcing and Repatriating Employment (HIRE) Act, which could slap tariffs on outsourced services, as a bigger concern for India than the recent $100,000 hike in H-1B visa fees. He noted that the legislation currently being discussed in the US Congress represents a greater risk to India’s service exports and its global talent flow.

“One of our biggest concerns is not so much the goods tariffs but if they try and find ways of imposing tariffs on services. This is a threat. There's the HIRE Act, which Congress is debating, which will try and put tariffs on outsourced services. How that'll be implemented is anybody's question, but this creeping of tariffs beyond goods to services to Indian visitors into

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