Donald Trump now became the 45th President of the United States after taking the reins from Barack Obama on 20 January 2017.
Holding the chair of World’s Most Powerful position is not easy. It is indeed an advantage-cum-responsibility for anyone in that situation. Trump is known for his blunt speeches during elections and he has promised a lot which is going to affect the whole world. Well it is important for us to know how itis going to affect India as he described Indian Prime Minister Narendra Modi as a great man during his campaign.
1. Trump has economic interests in India. The EB-5 visa programme is likely to further gain traction in India if Trump were to follow through with his agenda of cutting federal spending while at the sametime easing regulation for businesses.
2. He stated to curtail Chinese trade, which is good news for India. Trump also stated for higher tariffson Chinese goods, litigation against China for stealing American trade secrets and bring trade cases against China at the World Trade Organization (WTO) to force it to cut down its trade subsidies. If all this happens, Trump fulfils his poll promises, India will make huge strides in pharma as China exports pharma products worth $20 billion to the US.
3. He also made a strong pitch against ISIS and immigration from countries that export terror and this is bound to hurt Pakistan. Trump has a plan to establish a commission on radical Islam, which will launchan ideological offensive. Trump has plans to expose networks in American society that promote radicalIslam, which will greatly benefit India in terms of security.
4. He has plans to open onshore and offshore leasing on federal lands and lift the moratorium on coal
leasing. India, which is dependent on Organization of Petroleum Exporting Countries (OPEC) when itcomes paying a price for oil, will benefit as opening up of the US oil sector will lead to price stabilityglobally. ONGC will be able to expand operations globally.
5.However, Trump also has soft approach towards Russia and he can revisit US policy towards China. If that happens, it would have serious security ramifications for India.
6. Trump has also vowed to bring back jobs to Americans and this will impact India in a huge manner.Indians are the top recipients of the H-1B visas, and this might get a blow. Trump terms H1B visa programme as unfair and his stated purpose is to end the programme. Bringing jobs back to America could mean harsher conditions for entry of immigrants from India.
Source-The Economic Times