India, China, Indonesia… What will be the impact of Trump’s victory on Asia, what do experts say?

Experts say that Donald Trump becoming the President of America will open new opportunities for India. However, if the decision is taken to curb import and H1B visa rules, some sectors like pharma and information technology (IT) may face problems. After Donald Trump’s victory on Wednesday (November 6, 2024), experts have made different claims, some of which are positive for Asian countries, while some are scary.

He said that the Prime Minister with Trump Narendra Modi Friendship will have a positive impact on India-US relations. However, India may have to change its strategies to maintain cooperation in areas of mutual interest.

Former Vice Chairman of NITI Aayog, Rajiv Kumar said on Wednesday (November 6, 2024), ‘Donald Trump becoming President can be a new opportunity for India. Trump will impose tariffs and import restrictions on countries that he feels are not friendly to America. These include China and even some European countries. If this happens, it may open up markets for Indian exports.

Barclays said in a research report on Wednesday that Trump may be most important for Asia in terms of trade policy. Barclays said, ‘We estimate that Donald Trump’s tariff proposals will reduce China’s GDP by two percent and put pressure on other more open economies in the region.’

The report said economies including India, Indonesia and the Philippines, which are more dependent on the domestic market, will be less sensitive to higher tariffs. Rajeev Kumar said that Donald Trump will see India as a friendly country and during his tenure, large investments from American companies can be expected in India.

He said that overall Donald Trump’s victory is a very positive event for the Indian economy. NR Bhanumurthy, director of the Madras School of Economics, said, ‘I doubt that Donald Trump will impose tariffs on Indian products, because the concern for America is not about India, but more about China.’ On the other hand, some experts believe that Trump’s trade protectionist views may have some negative impact on India’s exports.

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