US Election result: Donald Trump’s possible triumph could mean this for India
Former US President and Republican presidential nominee Donald Trump has secured his third battleground triumph of the evening by clinching Pennsylvania, bringing him much ahead in the race. Other key States such as Michigan and Nevada are too close to call.
Speaking to his supporters on Tuesday, Trump claimed success in US Presidential Elections. Several media outlets have noted that the politician is far ahead than Democratic nominee Kamala Harris. Trump said that the country has “given us an unprecedented mandate.”
Indians are closely monitoring the election results as they could have significant consequences for the country, particularly in areas like bilateral trade, stock market and H-1B visa rules. The India-US relationship could possibly take a fresh direction if Trump grabs success.
Donald Trump’s likely triumph in US election could mean:
In terms of trade, a Trump administration is likely going to pursue US-centric trade policies, pushing India to reduce trade barriers or face tariffs. This could seriously impact several sectors such as IT, textiles and pharmaceuticals, reported the Economic Times.
If the Indian stock market is taken into consideration, Donald Trump’s possible triumph in the US election is estimated to have a reasonable impact on emerging markets, equities and currency. It could imply higher gold prices, too.
Next, during his first time in office back in 2016, the US attempted to restrict the H1-B visa program by shrinking eligibility criteria and increasing scrutiny of applications. If Trump gets elected, the number of visas could be reduced and the cap system could be adjusted.
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