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Trump victory may boost prospects for Indian manufacturers and exporters
Industry News- Nov 07,24
Market experts suggest Trump’s return could indirectly benefit Indian businesses in manufacturing and exports, particularly through factors like increased tariff restrictions on China and continued global supply chain shifts.
With Donald Trump poised for a second term as U.S. President, analysts foresee promising opportunities for Indian manufacturing and export companies, even as Trump’s policies focus on “America First” and reducing trade deficits.
Market experts suggest Trump’s return could indirectly benefit Indian businesses in manufacturing and exports, particularly through factors like increased tariff restrictions on China and continued global supply chain shifts. Trump's previous term saw multiple rounds of tariffs on Chinese goods like steel, aluminum, and solar panels, which affected over $380 billion in trade, prompting global companies to explore alternative sourcing and manufacturing hubs, including India.
With Trump’s likely stance against China, demand for Indian products could rise as multinational companies continue relocating their manufacturing operations from China to India. This shift could provide export opportunities for Indian firms, especially as U.S. companies seek to diversify their supply chains.
Sectors like automobiles, machinery, textiles, and chemicals are expected to gain traction in the U.S. market, with Indian exporters positioned to capture a larger share. Additionally, a stronger dollar could enhance Indian export competitiveness in sectors such as telecom, pharmaceuticals, and auto components.
Trump’s potential tax reforms and pro-business policies might also encourage U.S. companies to invest in India’s manufacturing sector, fostering opportunities for joint ventures, technology transfers, and production facilities.
(Moneycontrol)
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