India at risk as Trump’s trade policies do not distinguish between friend and foe.
One certainty of 2025 – the terms of trade are set to change.
For India, this presents a major economic risk.
Trump has made trade a big focus of his second term as President of the USA – he is expected to upend the $24 trillion world goods trade and possibly the $7.5 trillion services trade.
This puts at risk India’s largest export market – the US.
The US has also been an important supplier of capital.
The US consumes as much as a fifth of India’s exports — led by two shiny new growth spots in phone manufacture and global capability centers — and is also among the biggest sources of fund flows, reports Bloomberg’s India Edition, written by Menaka Doshi.
Australia well knows that Trump’s trade strategies do not distinguish between friends and foes – as one of the USA’s closest defence allies, Australia was a major victim of Trump’s anti-China moves.
India could be hard hit this time around as he continues a “transactional and mercantilist” approach to trade.
India and Australia should be making the final negotiations on a trade deal a top priority.
Author: Stephen Manallack
Former President, Australia India Business Council, Victoria and Author, You Can Communicate; Riding the Elephant; Soft Skills for a Flat World (published by Tata McGraw-Hill INDIA); Communicating Your Personal Brand.
Director, EastWest Academy Pty Ltd and Trainer/Speaker/Mentor in Leadership, Communication and Cross Cultural Communication.
Passionate campaigner for closer western relations with India.
Stephen Manallack is a specialist on “Doing Business with India” and advisor/trainer on “Cross-Cultural Understanding”. He is a Director of EastWest Academy Pty Ltd which provides strategic advice and counsel regarding business relations with India.
A regular speaker in India on leadership and global communication, his most recent speaking tour included a speech to students of the elite Indian university, Amity University, in Noida. He also spoke at a major Federation of Indian Chambers of Commerce and Industry (FICCI) global summit, the PR Consultants Association of India in Delhi, the Symbiosis University in Pune and Cross-Cultural Training for Sundaram Business Services in Chennai. He has visited India on business missions on 10 occasions and led three major trade missions there. He provides cross-cultural training – Asia and the west.
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