07-11-2024 12:46 PM | Source: PR Agency
Comment on US presidential outcome and its impact on climate change and trade from an India relationship standpoint by Viswajit Srinivasan a senior banker

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Below the Comment on US presidential outcome and its impact on climate change and trade from an India relationship standpoint by Viswajit Srinivasan a senior banker

 

Trump, in the run up to the elections promised his voters that the US would opt out of the Paris agreement if he were to be elected President. This would mean the US would be only the fourth country other than Yemen, Libya and Iran to not be part of the Paris agreement. The US pull-out from the Paris agreement can be reasonably expected given in the first term as well, Trump did pull out, albeit briefly. The US has been seen leading efforts in managing climate change and such a move  would mean countries such as India and China could also dilute their plans for managing and reporting emissions. It is still unclear what the Trump Government’s position might be on exiting the United Nations Framework Convention on Climate Change (UNFCCC) and there may well be a legal challenge if this is attempted.

 

impact from a trade and India relationship standpoint

...India is one of the top 5 manufacturing countries as per the World Bank and given the China + 1 (C+1) strategy most large businesses adopt, India will continue to attract investments, grow as a manufacturing hub and create jobs in the manufacturing sector. Contentious areas include a weak rupee, trade surplus with the US, tariffs imposed by India on goods from the US and immigration policies including the H1B which is key for Indian tech talent to find employment in the US. Given the camaraderie between the Indian premier and the US President, it is expected that most of these would be discussed and resolved amicably by the two countries.

 

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