5 hours Ago By AGENCIES
Jan 22 – Industry leaders have expressed optimism about the future of India-US trade and economic ties under President Donald Trump, highlighting opportunities for collaboration in key sectors such as healthcare, pharmaceuticals, and electronics. However, concerns remain after Trump reiterated his threat to impose a 100% tariff on countries in the BRICS bloc, including India, if they take steps to replace the US dollar in global trade. Click here to connect with us on WhatsApp Trump, who was sworn in as the 47th President of the United States on Monday, warned that BRICS nations would face steep tariffs if they attempted to reduce reliance on the dollar.
“If the BRICS nations want to do that, that’s okay, but we’re going to put at least a 100 per cent tariff on the business they do with the United States,” he stated. Ahead of Trump’s inauguration, RPG Enterprises Chairman Harsh Goenka outlined key priorities for strengthening India-US ties in a post on X. He suggested India could ease market access for US products, welcome companies like Starlink and Tesla, and be more flexible with Amazon while strengthening defense cooperation.
In return, he proposed that Trump support India’s aerospace and defense manufacturing, back its bid for a permanent seat on the UN Security Council, ease visa rules for Indian professionals, and foster better relations with Bangladesh. S P Sharma, Deputy Secretary General of PHDCCI, expressed confidence that Trump’s administration would further enhance bilateral trade. “Donald Trump’s previous tenure was highly beneficial for India, with strong economic and trade relations.
Moving forward, we anticipate further strengthening of India-US ties,” he told PTI. Sudarshan Jain, Secretary General of the Indian Pharmaceutical Alliance, emphasized healthcare as a key area for collaboration. “Healthcare security and affordability will be priorities for the new Trump administration.
India and the US have an opportunity to work together on pharmaceutical research, development, and manufacturing, as well as addressing supply chain challenges,” he noted. Pankaj Mohindroo, Chairman of the India Cellular and Electronics Association (ICEA), highlighted the potential for trade expansion in the electronics sector. “This is a great opportunity for our nation.
President Trump will be decisive, and our trade should grow manyfold, especially in smartphones and electronics,” he said. Despite Trump’s tough stance on BRICS, Indian industry leaders remain hopeful that strategic economic cooperation between the two nations will continue to thrive..
