Nilesh Shah asks Trump 2.0 to consider 'billions' spent by Indian students on US colleges before imposing import tariffs

The US is New Delhi’s largest trading partner, with annual trade crossing $190 billion

Nilesh Shah, managing director of Kotak Mahindra Asset Management Company Ltd, on November 17 urged the new US administration under President-elect Donald Trump to consider the scale of spending by Indian students on American universities.

In a post on X, the market veteran said, “Indians (~269,000 students @$ 20,000 per capita fees and living expenses = $ 53.8 billion) are spending substantial amount in US colleges and universities. Hope, while considering tariff, new US administration takes into account such spending.”

Indians (~269,000 students @$ 20,000 per capita fees and living expenses = $ 53.8 billion) are spending substantial amount in US colleges and universities.Hope while considering tarriff new US administration takes into account such spending. pic.twitter.com/CYUcQHVx1V
Nilesh Shah (@NileshShah68) November 17, 2024

Republican Trump, who won the recently held US presidential elections by defeating Kamala Harris, has promised tariffs on goods from several countries, including China and India.

'Dugna daam dena padega,' says Nilesh Shah to FIIs exiting Indian markets

The US is New Delhi’s largest trading partner, with annual trade crossing $190 billion. Between FY20 and FY24, the country’s merchandise exports to the US jumped by 46 percent to $77.5 billion from $53.1 billion.

Imports from the US also grew, from $35.8 billion to $42.2 billion, a rise of 17.9 percent.

The return of Trump as the US president has left experts divided over the fate of the study abroad plans of Indian students.