New US Tax Cuts and Jobs law looks inwards: Here is how it impacts Indian companies

The major Indian sectors that are likely to feel the impact are IT-ITES, pharma and contract manufacturing.

By: Express Web Desk | New Delhi | Updated: December 21, 2017 5:28 pm

Trump threatens Jerusalem opponents with US funding cutoff

President Donald Trump speaks during a cabinet meeting at the White House, Wednesday, Dec. 20, 2017, in Washington. (AP Photoi)

The US Senate Wednesday passed US President Donald Trump’s Tax Cuts and Jobs legislation, arguably the biggest tax reform in the country over the last three decades. Trump’s Republican party, which enjoys a majority in US Congress and the House of Representatives, had earlier given its nod to the legislation. Once enacted, the monumental tax reform entails a $1.5 trillion in tax cuts and is expected to impact global economies including India.