Optimistic about India-US trade, economic ties under Trump: India Inc

Notably, Trump has again warned that he will impose 100 per cent tariff against countries of the BRICS bloc, of which India is a part, if they take any step to replace the US dollar.

Trump, who took oath as the 47th President of the US on Monday, said, "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." They "have a 100 per cent tariff if they so much as even think" about reducing the use of the dollar in global trade, he added.

Hours before Trump's inauguration ceremony in the US on Monday, RPG Enterprises Chairman Harsh Goenka, in a post on X, said, "What India can do for Trump: 1. Ease market access for U.S. products 2. Welcome Starlink & Tesla 3. Be flexible with Amazon 4. Strengthen defense ties What Trump can do for India: 1. Support in aerospace & defense manufacturing 2. Back India's UN Security Council bid 3. Ease visa rules for Indian talent 4. Collaborate on bringing good relations with Bangladesh," Goenka said in the post.

Sharing his views on the prospects of India-US ties under the Trump-led US administration, S P Sharma, Deputy Secretary General of PHDCCI, told PTI, "Donald Trump's previous tenure proved highly beneficial for India, with a robust bilateral trade trajectory and dynamic economic relations. Moving forward, we anticipate further strengthening of India-US bilateral economic and trade relations. As a leading driver of global growth, India's perspectives hold significant importance for shaping a better and more balanced world".

Sudarshan Jain, Secretary General, Indian Pharmaceutical Alliance, said healthcare security and affordability are key priorities for the new Trump Administration.

India and the US have an opportunity to collaborate in these areas to advance the healthcare agenda, he said.

"Healthcare can serve as a cornerstone of this partnership and will help to explore opportunities for cooperation in pharmaceutical research, development, and manufacturing, and to address common challenges in healthcare, including supply chain resilience and security," Jain said.

Pankaj Mohindroo, Chairman, ICEA (India Cellular and Electronics Association), said, "This is a great opportunity for our nation. President Trump will be decisive and our trade should grow many especially in smartphones and electronics," he said.