In conversation with CNBC-TV18, Shringla suggested that it would be logical to revisit the trade deal that was nearly concluded at the end of Trump’s presidency. He noted, “Both sides stand to gain from even a partial agreement that allows certain goods to enter each country at low or no duty rates. This would not only enhance trade but also boost confidence, benefiting both nations. If Trump returns to office, I think this scenario is very much on the cards.”
Highlighting the significant progress made in Indo-US relations, particularly in sectors such as trade, semiconductors, artificial intelligence, and clean energy manufacturing, Shringla asserted that this momentum could be maintained regardless of who occupies the White House.
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“Every presidency builds upon this relationship,” he said, pointing out that the term “Indo-Pacific” was coined during Trump’s administration and has since been advanced by President Biden. Shringla also remarked on the revitalization of the Quad alliance under Trump, which has since been elevated to heads of state and government level by Biden.
“Each administration contributes to strengthening ties, and there are various areas for cooperation involving India that both sides would be eager to develop further,” he added.
However, Shringla expressed concerns that a potential Kamala Harris presidency might usher in a more protectionist approach focused on securing US economic interests. He noted, “The trends indicate that the US might adopt a more protectionist stance regarding its core interests, particularly in light of the widening trade deficit with numerous countries. Any president will prioritize restoring America’s manufacturing capabilities and economic stability.”
Despite these concerns, Shringla emphasised the importance of navigating challenges to foster a mutually beneficial relationship. “The crucial question is how we can leverage our partnership despite the pressures both presidents face in prioritising their own economic interests,” he explained.
He underscored the necessity of enhancing joint ventures and collaborative manufacturing initiatives, believing that both countries could benefit significantly from a strengthened relationship. “Regardless of who assumes the presidency, I believe we can demonstrate that this relationship is advantageous for both America and India. Ultimately, it should be a win-win situation.”
Shringla’s insights reflect the complexities of the US-India partnership as both nations prepare for potential shifts in leadership, underscoring the significance of maintaining strong diplomatic and economic ties.
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