– By Naveen Aggarwal
Donald Trump is back in the White House, taking on the role of the 47th President of the United States. His recent inauguration was held indoors due to the frigid Washington weather, but that hasn’t dampened his signature style. As we dive into this new chapter, it looks like we’re in for an exciting ride with plenty of big announcements and bold moves.
Trump’s leadership will likely change both America’s domestic and international markets. His “America First” policy is set to influence not just foreign relations but also key aspects of the global economy. For India, the challenge will be to strengthen its relationship with the U.S. while balancing national interests. This presidency could enhance U.S.-India ties, offering new opportunities for cooperation despite potential bumps along the way. Here are some key areas to watch:
QUAD: A Key Player in Geopolitics
The Quadrilateral Security Dialogue (QUAD) is becoming essential for India’s strategy on the global stage. With Trump back in charge, the significance of QUAD is expected to rise, especially as it works to counter China’s influence in the Indo-Pacific region. The first QUAD foreign ministers’ meeting after his inauguration signals how important this partnership will be. India should utilize this alliance to improve maritime security and military collaboration with like-minded nations.
Shared Visions: “Make America Great Again” and “Viksit Bharat”
Trump’s “America First” agenda aligns well with Prime Minister Modi’s goal of a “Viksit Bharat” (Developed India). Both leaders aim for self-reliance in key industries, presenting various opportunities for collaboration. Although Trump’s policies may seem daunting at times, there’s potential for smoother trade relations. India’s push for diverse supply chains complements Trump’s focus on reducing reliance on China.
Technology Partnerships: Expanding Horizons
Trump loves making big deals, and the tech partnership between the U.S. and India could be a blockbuster. Key sectors like cybersecurity and defense may dominate discussions under initiatives such as the Initiative on Critical and Emerging Technologies (iCET). Space exploration also stands to benefit, with possibilities of joint missions and satellite launches that could make headlines.
US Economy: Prospects for India’s Services Sector
With Trump 2.0, the U.S. economy may enter another growth phase. This could open doors for India’s IT and outsourcing industries. There are two areas to watch: First, U.S. firms may establish Global Capability Centers (GCCs) to tap into India’s talent for their global growth. Second, the demand for AI-driven and digital services is expected to rise, creating new avenues for innovation.
Trade-wise, we might see mini sector-specific deals that could help ease tensions in global markets and encourage stable partnerships.
For India, maintaining balance will be crucial—making the most of its partnership with the U.S. while retaining strategic independence. The personal rapport between Trump and Modi could be pivotal. Their dynamic—evident from warm welcomes and engaging speeches—shows that diplomacy can be effective yet enjoyable.
Trump’s anticipated visit to India in April promises to be not only a diplomatic event but a spectacle. Expect high-profile joint appearances and exciting announcements that could match the grandeur of major concerts. It’s an event that many will be eager to witness!
(Naveen Aggarwal, Managing Partner – Delhi NCR and US India Corridor Leader, KPMG in India.)
(Disclaimer: The views expressed are personal and do not represent the official stance of Financial Express Online. Unauthorized reproduction of this content is not permitted.)
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Source linkDonald Trump, US president, India-US ties, trade partnership, America First approach, foreign policy, military cooperation, Viksit Bharat, tech partnership, US economy, Services Sector, trade deals
