Chennai (Tamil Nadu) [India], November 7 : As Donald Trump is designated to be the President of the United States of America, Indian Economist Suriya Narayan on Thursday morning said that his win would be beneficial for India when it comes to export (trade). Trump's overtaking in the US elections provides India with a huge potential for export since the President-elect has claimed to charge 60 per cent duty on Chinese goods, he added.
"Today is a good day for India. Trump's election as the US President will have a multifaceted effect on the Indian economy, international economy, world trade and peace. This election we will have different aspects. Trump's overtaking (in elections) gives India a lot of potential for export because Trump has informed multiple times in his election speeches that more than 60 per cent duty will be charged on Chinese goods. This means that it is an opportunity for India to export goods, especially the export of Agro and other products related to pharma," Narayan said while speaking to ANI.
The Economist further said that India has an opportunity to export more goods to the US, including agro and pharmaceutical goods.
"Already, India is at the top in exporting pharmaceutical goods to the USA. Many pharma companies are exporting their products to the US. Now, it is a grand opportunity for India to export more goods. Our Prime Minister Narendra Modi is a very close friend of Trump. This (Trump's win) will have a great effect. Today morning, PM Modi had a detailed conversation with Trump about their forthcoming meeting," Narayan said.
Implying that Trump will also be good for the European economy, the Economic expert said, "From day one, the main promise made by Trump is the stopping of war between Russia and Ukraine. The war is affecting the entire European economy. Now, there is a scope and hope for the world that the European economy will flourish. More than that, it also affects India. The export that comes from China (to the US) will slowly be replaced by the export from India. The export of Agro commodities as well as arms and ammunition will increase exponentially."
The Indian origin vote made a huge difference in electing Trump over Kamala Harris, he added.
Meanwhile, Indian-Americans are celebrating Donald Trump's victory in the presidential election, expressing optimism about the potential benefits for the economy, border security, and global peace.
Donald Trump has secured a second term as president after winning crucial battleground states. This victory marks a significant comeback for Trump, who lost his re-election bid in 2020 to President Joe Biden.
Avinash Gupta, President of the Foreign Indian Association, believes Trump's good rapport with Prime Minister Narendra Modi will strengthen India-US relations. He cited local factors like inflation, open borders, and ongoing wars as key concerns that influenced Indian-American voters.
Earlier, US Vice-Presidential candidate JD Vance's wife Usha Vance's grand aunt, Professor C Santhamma spoke toand expressed her happiness after the US Polls.
"Naturally, I feel happy. She belongs to our family and it is the most important thing," she said, adding that her relationship with Vance was through her husband who has five brothers and the eldest brother has four children. "Usha is the daughter of one of his sons," she said.
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