Joe Biden is the president-elect of the United States of America (USA) for the year 2020 and shall be inaugurated as the 46th president on January 20, 2021. India shared a close business and trade relationship with the USA under the Trump administration.
As the vast county readies itself for the new presidency tenure, India is pondering how Biden’s win is going to impact its businesses under Biden’s administration.
Indian Business Sectors Impacted By Joe Biden’s Administration:
Indian market is predicted to positively impact and follow wall street’s trends. This shall lead to the end of uncertainty attracting more investor participation.
The VISA regime may not change extensively except for a few reforms being introduced under the Biden administration. These reforms shall be introduced for highly skilled workers, the IT sector, students involved in Ph.D. programs in STEM (science, technology, engineering and, mathematics) fields.
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Biden administration shall continue with the previously followed US policy of strengthening economic and trade relations with India. This shall benefit both countries given the trade war recently started with China. The pharmaceutical sector may thrive due to increased healthcare investments.
Change of administration may have a low impact on the trade relations between the two countries. There is a possibility that India may be pressured to sign the Trans-Pacific Partnership movement.
Shifting Of Supply Chains
the USA may accelerate the efforts to shift its supply chains from China to India to reduce the dependency of the world on China. Inevitably, India shall stand to benefit from this ordeal.
Climate Change Policy
Biden’s approach towards climate change shall benefit India in terms of investments and funding in renewable energy production.
The Biden administration may benefit India, especially in the investment and business sectors. Trade relations between countries shall only improve with the new government.
However, the same may not be guaranteed in the VISA and immigration policy. In short, Undo-USA relations are only going to improve in the new future.
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