Trump victory may pave way for talks on India-US free trade agreement

8 November 2024 09:05 am Views - 197

NEW DELHI: Donald Trump's re-election as the 47th President of the US has raised expectations about the resumption of some partnerships which were paused during President Joe Biden's term. This includes the possibility of an India-US Free Trade Agreement (FTA).

"President Trump's comeback to power could lead to India-US FTA negotiations (which made no headway during President Biden's tenure) which will provide both sides with greater market access," former Foreign Secretary and Ambassador to the US Harsh Vardhan Shringla told The New Indian Express.

The US is India's largest trading partner and the bilateral trade between the two nations stood at $128.78 billion in 2023 compared to $119.48 billion in 2022.

"India has successfully engaged with President Trump in the past and there is a good equation between PM Modi and President Trump. Trump is in favour of ending the ongoing conflicts in Ukraine and West Asia. This also ties in with our own desire to see an end to this era of conflicts and PM Modi's efforts in this endeavour," Shringla added.

Indians legally living in the US are optimistic that their visa issues will be dealt with more fairness now.

Meanwhile, PM Modi, while congratulating Trump, also shared pictures of them together on various occasions. "Heartiest congratulations my friend on your historic election victory. As you build on the successes of your previous term, I look forward to renewing our collaboration to further strengthen the India-US Comprehensive Global Strategic Partnership. Together let's work for the betterment of our people and to promote global peace, stability and prosperity," said PM Modi a few hours after Trump gave his victory speech.

India is expected to be a key partner of the US like it was during the previous Trump government.

"In the long term, India's relationship with the US will flourish. If you recall the Indo-Pacific strategy, India played a significant role during the time of the Republican government. The Quad too will be strengthened further," Taranjit Singh Sandhu, former Ambassador to the US, told The New Indian Express.

"We are optimistic that the US will support India in its voice against terrorism and increasing radicalisation. The naming of India in human rights reports is likely to be reduced. Also, President Trump a week before the elections had talked about the atrocities against Hindus in Bangladesh so there is likely to be some semblance of peace around India's borders," said an expert on India-US relations, adding that India is hopeful that the situation in Bangladesh will be re-assessed by the US.