India’s External Affairs Minister, S Jaishankar, identified several key consequences following the results of the US presidential elections, viewing them as opportunities for deepening US-India ties. The US Presidential Elections saw republican nominee Donald Trump win for a second non-consecutive term. Notably, this will also be the first time a convicted felon become the President of the United States.
Speaking to business leaders and CEOs in Sydney, Jaishankar outlined four crucial areas of impact, including supply chain reordering, geopolitical hedging, digitisation, and talent mobility.
Jaishankar pointed out that the ongoing reordering of global supply chains, accelerated by the pandemic and geopolitical tensions, is likely to intensify following the US election. "There was already a re-ordering of the supply chains taking place. It is very likely that in view of the election results, this would accelerate. Some of it will be disruptive, but we in India see it as an opportunity," Jaishankar said.
As businesses pivot to more regional supply chains to avoid disruptions in global networks, India stands poised to benefit from this shift, which could lead to greater economic integration.
Jaishankar also noted that US-India relations are expected to see more geopolitical hedging, especially as nations seek to navigate the complexities of global politics. On the digital front, Jaishankar highlighted the growing importance of digitalisation in the bilateral relationship, which he believes will drive further collaboration between the two nations in the tech sector.
Jaishankar also spoke on the issue of talent mobility, pointing out that even with trends towards de-globalisation, the demand for skilled workers will persist. "Even if there is re-globalisation, the demographic unevenness is beginning to bite us. The global workplace doesn’t mean that talent alone has to move. Businesses can move as well... The US under Trump will make a distinction in immigration and mobility,” Jaishankar said, suggesting that skilled workers from India could continue to find opportunities in the US, despite Trump's tighter immigration policies.
In addition to discussing the shifting global landscape, Jaishankar highlighted India’s significant progress over the last decade. He noted that India’s educational institutions have expanded rapidly, with capacity having doubled since 2014.
"The educational institutions of India have doubled in capacity in the last 10 years... roughly 2 to 2.5 times from where they stood in 2014. That means creating two new colleges a day," Jaishankar explained.
Jaishankar also pointed to the country’s infrastructure growth, including the construction of 27-28 kilometres of highways and 12-14 kilometres of railway tracks daily. In aviation, India has added 75 new airports in the last decade, with plans for many more.
"In terms of infrastructure, in the last decade, on average, we've built 7.5 new airports a year," he said. Additionally, India has become a leader in digital transactions, with over 11-12 billion transactions occurring monthly, even among street vendors using QR codes.
