Donald Trump’s US election victory: What does it mean for the Indian economy?
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Summary: Donald Trump’s victory in the US election could have a major impact on India’s economy and markets.
As witnessed, the Sensex and Nifty had gone up as Donald Trump became the 47th president of the US. The Nifty50 surged 270.75 points, closing at 24,484.05 and the S&P BSE Sensex went up 900.50 points, closing at 80,378.13.
These were the numbers on a single trading day. Trump's victory may have significant effects on India's financial markets and economy as a whole.
As Donald Trump won the US presidential election, the US dollar, bitcoin, and US equities futures all increased. Global markets appear to be in a joyful mood now that the uncertainty around the US elections is over.
“The global markets experienced a relief rally following the US election results, reducing political uncertainty with Trump securing a strong mandate. This has led to strong risk-on sentiments, driven by expectations of tax cuts and increased government spending.” This comes from Vinod Nair from Geojit Financial Services.
“Trump’s second time after a gap of four years as US President is expected to bring both opportunities and challenges for India across trade, defense, immigration, and technology.” said the CEO of SMC Global Securities Limited, Ajay Garg.
While protectionist trade policies may affect Indian exports, Trump's plan to lessen US reliance on China would open up new markets for Indian IT companies and manufacturing as substitute suppliers.
Trump's plans could help businesses in manufacturing, conventional energy, and defense, while deregulation could boost the financial industry.
