InvestorQ : Now that Joe Biden is elected as the next President of America, do you believe that he will be good for India?
Moii Chavate made post

Now that Joe Biden is elected as the next President of America, do you believe that he will be good for India?

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Tisha Malhotra answered.
3 weeks ago
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After dilly dallying for a long time and keeping the world in a state of animated suspension, the truth is finally out. Joe Biden will be the next US President and Trump will be the first president in the last 28 years to not get a second term in office.

Now that we know Biden is the next man, the question is whether Biden is the man for India and what does his presence as POTUS mean for India. Will Biden be good for India, is the big question. I would believe so, at least by looking at the optimistic reaction of the markets. There are some very cogent reasons that the optimists do offer.

One perspective is that Biden would be more open to concessions on trade, unlike Trump who had withdrawn India’s MFN status. That had impacted Indian exports to the US worth $5.5 billion that had been exempted from special privileges. Unlike Trump, it is also expected that Biden would adopt kneejerk reactions to the burgeoning trade deficit on $90 billion of trade that the US is now running with India.

One general expectation is that the new president would stay away from sensitive issues like the restrictions on H1-B visas, which put a lot of IT companies in a spot. It is also expected, or I would say hoped that, Biden would vote for a bigger role for India in the world table which includes a permanent seat in the US Security Council.

If you look at the attitude of the NRIs in America, the attitude towards Biden is surely changing as Trump has gone out of favour. But we have to really wait and see if there is going to be any tangible benefits for India.

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