Indian industries, stock market happy: Sensex, Nifty new top

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Ahmedabad. 09 November 2020, Monday

As part of the Indian business community's welcome to the change of power in the United States, Indian stock markets touched a new record high today. In the early stages of trading today, the Sensex touched a new high of 500 and the Nifty set a new record of 150. According to the country's leading industry body, bilateral trade between India and the US will reach 200 billion under the new US leadership.

Other industry associations, including CII, FICCI and Assocham, welcomed the new leadership formed in the US, saying the new government's policy policies would reduce the trade in the US by Indian companies in the near future. At present, bilateral trade between the two countries is estimated at અ 150 billion. Which is expected to increase to ૫ 200 billion in the near future.

In addition, the announcement of a visa waiver for the new US President Bid The industry looks cheerful. Following the announcement of the new president's relief on the visa issue, IT Companies will see an increase in operations in the US.

According to economic experts, India and the United States are currently facing a number of challenges, including economic growth, unemployment and relief for small businesses. Thus, India is likely to increase India-US cooperation on all these issues in the near future.

The Confederation of Indian Industry said the CII is keen to work with Biden and his administration. In 2014, before the Corona outbreak, bilateral trade in goods and services between India and the United States peaked at 150 billion and will increase in the coming years.

With the dawn of a new era in the United States, areas where trade opportunities have grown include energy, defense, pharma, and healthcare.

The US-India Business Council called Biden's victory a momentous moment. The Council is keen to work with Biden and his administration to ensure that the Indo-US economic partnership reaches its full potential. Under Obama, Byrd played a key role in enhancing the strategic partnership between India and the United States.

It may be mentioned here that in the past, when Obama was in power as US President, a strategy was formulated to increase bilateral trade between India and the US to 500. But no significant progress was made on this issue. He was with the current new president, Obama. Now it is expected that they will be active on this issue once again in the near future.

Even so, India's trade with the US is in a surplus. Exports from India to the US have increased. April-Dec. During 2017, drug exports increased by 8%. Apart from this, there was a two-pronged attitude towards other things. India benefits from FTA agreement with US The US is a major market for domestic goods and services, which has boosted India's exports as well as imports.

The two main indexes of the Indian stock market, the Sensex and the Nifty, hit all-time highs in the last phase of the record year today, following other favorable reports, including a calculation that the new government in the US will be favorable for India.

The Sensex hit an all-time high of 8 and the Nifty 12 all-time high today on the back of favorable macroeconomic data, positive growth in the core sector, growth in GST revenue, increase in power demand and other favorable factors. Expectations for the September quarter were also positive for the market, with good results and new entrants from foreign investors.

At the close of trading today, the Sensex had jumped 206.5 points to close at a new high of 7.5. The NSE Nifty jumped 19.50 points to 121.05.

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