Optimistic about India-US trade, economic ties under Trump: India Inc

Optimistic about India-US trade, economic ties under Trump: India Inc

Industry leaders voiced optimism regarding the future of India-US trade and economic relations under President Donald Trump, highlighting opportunities to strengthen bilateral cooperation in sectors like healthcare, pharmaceuticals, and electronics.

Notably, Trump has once again threatened to impose a 100% tariff on BRICS countries, including India, if they attempt to replace the US dollar.

After taking office as the 47th President of the United States, Trump stated, "If BRICS nations decide to take that step, that's fine, but we will impose at least a 100% tariff on the trade they conduct with the United States." He further warned that they would face a 100% tariff if they even consider reducing the use of the dollar in global trade.

Ahead of Trump's inauguration on Monday, RPG Enterprises Chairman Harsh Goenka shared a post on X outlining potential actions for both India and the US. In a post on X, Goenka said, "What India can do for Trump: 1.Ease market access for U.S. products 2.Welcome Starlink & Tesla 3.Be flexible with Amazon 4.Strengthen defense ties What Trump can do for India: 1.Support in aerospace & defense manufacturing 2.Back India's UN Security Council bid 3.Ease visa rules for Indian talent 4.Collaborate on bringing good relations with Bangladesh," said Goenka.

S P Sharma, Deputy Secretary General of PHDCCI, told PTI, "Donald Trump's previous tenure proved highly beneficial for India, with a robust bilateral trade trajectory and dynamic economic relations. Moving forward, we anticipate further strengthening of India-US bilateral economic and trade relations. As a leading driver of global growth, India's perspectives hold significant importance for shaping a better and more balanced world".

Sudarshan Jain, Secretary General of the Indian Pharmaceutical Alliance, emphasized that healthcare security and affordability will be key priorities for the new Trump administration.

He noted that India and the US have a valuable opportunity to collaborate in these areas to further advance the global healthcare agenda.

"Healthcare can serve as a cornerstone of this partnership and will help to explore opportunities for cooperation in pharmaceutical research, development, and manufacturing, and to address common challenges in healthcare, including supply chain resilience and security," Jain said.

Pankaj Mohindroo, Chairman, ICEA (India Cellular and Electronics Association), said, "This is a great opportunity for our nation. President Trump will be decisive and our trade should grow many fold especially in smartphones and electronics," he said.