As we draw closer to one of the most anticipated global events of the year – the U.S. Presidential Elections – Entrepreneur India takes a closer look at why it really matters to India.
Emerging markets like India are prone to getting impacted by the Presidential elections. Prime Minister Narendra Modi and President Barrack Obama had set ambitious target of increasing bilateral trade talks to $500 billion by 2020. It will be interesting to see whether Obama’s successor remains committed to these initiatives. Also, the Washington counterpart has shown interest in supporting India in its ‘Smart City’ programs.
The Pakistan Factor
In his recent campaign U.S. Presidential candidate Donald Trump has severely condemned the Uri Attacks and sent a clear message on talking tough with Pakistan on cross-border terrorism. Trump’s interest and softness towards India is also associated with the fact of his business interest in the country with the construction on Trump tower in India’s premium location.
Trump has been very vocal about bringing back manufacturing jobs back to the country and how the emerging, developing countries of the world were stealing jobs from the U.S. citizens. The H –1B Visa is extremely important for Indian software companies. Trump has hinted several times that he might want to increase the immigration fee to make it difficult to get people to migrate. Hillary Clinton also said that she would take a hard look at this issue.
Stock market shaker
The stock markets are expected to have a strong reaction amidst the surmounting uncertainty over the election of Trump and the negativity ushered due to his comments on immigrant visas, trade policies and political remarks. Irrespective of who gets elected, the initial jitters are definitely going to impact the Indian stock market this week.
As time tick-tocks closer to the D-day, India will have to amend and work towards working with the new governance in the U.S.