Donald Trump is all set to become the 47th United States President as the US election progresses. But what does Donald Trump’s win mean for India’s economy? Adrian Mowat, an investor in Hong Kong SAR, believes that India will benefit from Trump’s win due to the fresh tariffs on China, which he had promised earlier. This could potentially make India the new manufacturing hub for businesses, leading to a boost in the Indian economy. However, Mowat also warned that Trump may impose similar tariffs on US-based companies that have IT employees in India, which could have a negative impact on India’s IT industry.
Trump’s Previous Tenure Impact on India-US Relations
During Donald Trump’s first term as United States President, he tightened regulations on H-1B visas, resulting in high rejection rates for H-1B and L-1 visas. This had a significant impact on the IT industry, which was heavily reliant on these visas. However, Taranjit Sandhu, the former ambassador of India to the USA, remains optimistic about the future of India-US relations. He believes that the relationship has the potential to grow further, especially with the support of the Indian Americans community, which has played a pivotal role in strengthening ties, particularly in the education and knowledge industry.
Donald Trump Win Impact on Militaries Ties and Defence Cooperation
Military and defence cooperation has been the cornerstone of India-US ties in recent years. The promising initiative Critical and Emerging Technology (iCET), which focuses on the development and sharing of advanced technologies, and defence deals like the GE-HAL agreement to manufacture jet engines, have been the major highlights of the India-US ties under Joe Biden’s Presidency.
During Trump’s last presidential term, the elevation of Quad- an alliance between the US and India, Japan and Australia strived to counterbalance China. With Donald Trump winning the election, we could see further defence cooperation with continuing arms sales, joint military exercises and technology transfers. For more updates on the US elections 2024, follow Forcenewz today.
Also Read:- Top 10 Best Must Visit Places in United States 2024
Leave feedback about this