Joe Biden's business plan and what it means for India
NEW DELHI: The Joe Biden presidency may face a logjam in the Senate and the House. The new administration is likely to encounter hurdles in pushing some of its policies. Biden may have to persist with a few of outgoing President Donald Trump's policies. However, some positive impact is likely to be seen across sectors in India.
Here's how it may affect certain sectors
Stocks to surge:
Indian markets may follow the trend on Wall Street and are likely to be positively impacted. End of uncertainty will also improve sentiment.
The new administration will continue US policy of strengthening strategic, economic and trade ties with India, which could get accelerated given the trade war with China. Pharma sector may gain with increased go nment spending on healthcare. The visa re gie will may not see big changes, but IT companies can breathe easy given Biden’s proposed H-1B visa reforms.
Low impact on trade:
A change of guard at the White House may not significantly alter America’s trade policies. India may actually come under pressure to join the Trans-Pacific Partnership Agreement, which the Trump administration had opted out of.
Supply chains may shift:
The efforts to relocate supply chains from China will gather momentum and India would stand to benefit from such a move by the US. The new administration is likely to push this agenda as it seeks to de-risk the world by reducing dependence on China.
Biden's proposed business plan:
Taxes: Raise corporate tax rate to 28% and top individual income tax to 39.6%; 10% offshoring tax proposed
Reform the visa re gie for highly skilled workers; Exempt from any cap recent graduates of PhD programmes in STEM (science, technology, engineering, and mathematics) fields
Rather than sticking to Yesteryear Trade Norms, Both should be Trade partners in this new era that benefits both & reduce dependency on the Treacherous, Crooked Cheap Chinese Products & blunt those Pokey faces Economically.
At age 78 Joe Biden is unlikely to survive the rigours of the high office. If the unfortunate happens, it is Kamal Harris India has to worry about. She is leftist and hugely anti Indian.
Nothing is known about Joe Biden and his attitude towards India. It is mostly speculation in the media. Not until all the administration members are sworn in that, bulk of their policies towards India and rest of Asia will be known. The only thing we know is that Kamala Harris is an anti Indian heavy weight in the Joe Biden Administration.
What it meant for India .....
There's a 40% chance that the old senile man Joe Biden can die of old age before he's even sworn in as President, Don't forget that the current president Donald Trump may well delay his swearing in ceremony. The hideous witch Kamala Harris is ready to become President.
There is no wide change in the business and trade between India & USA due to change of presidency in USA. Hope the things will continue mostly as usual.
If democrats win the upconming Georgia Senate seat then it will be smooth sailing.
If India run's it's economy well. It really doesn't matter whether it is Trump or Biden. The reverse is also true.
Indians ...Best time to move US...Savior of migrants in US...Time to Fulfill US dreams ..
Ironically enough, had Feku not held the Namaste Trump mega event in late February, the number of positive cases in India would not have been skyrocketing ever since.
India has worked earlier both with aRepublican President and Democrat Presidents and we had progressed well and we should be positive and there is no need to panic. Jai Hind.
Wonder how they will protect America ?
biden is almot senile and still wants to tax the american public with addl taxes and slurp the islamic rump. The madman was better than the moron
A country made by business will think of only business...
Biden needs to wait till RECOUNT of votes is done. He is NOBODY at the moment.
It is too early to predict Biden’s approach towards India. Democrats have never favoured India. It is not correct to have hopes that India will benefit from his policies. We should have trade agreements with U.K Europe ASEAN countries Japan and Australia and not depend on US. We have to revive our economy by sheer hard work.
No worries, India is moving towards of Atmanirbar.