Following Joe Biden's victory in the US Presidential election, Indian tech stocks climbed down.
In fact, tech topped the list of sectoral losers over the past few days.
That seems counter-intuitive, doesn't it? Certainty in the US ought to be welcome news for Indian tech giants, no?
The reason Indian tech is not extremely enthused about a Biden presidency might have to do with taxation.
Specifically, with the Base Erosion and Anti-Abuse Tax (BEAT) and the uncertainty around broader corporate tax restructuring.
What is BEAT? How does it work? How does it affect Indian companies? And how will Biden's taxation policy affect tech firms?
Click link to read: https://transfin.in/why-are-indian-mncs-concerned-about-joe-biden-corporate-tax-policy