Biden's policy could boost Indo-US trade, boost economic ties in the long run

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- Business around the world will benefit from Biden's move

Washington / New Delhi Thursday, January 21, 2021

Economists believe Biden's arrival will breathe new life into the US economy and boost US trade with India in the long run.

At present the situation is such that there is a surplus trade between India and the US. India exports more to the US. Biden's arrival is expected to boost trade between the two countries. However, there will be no major change overnight as the current economic situation in the US is not good and unemployment is high. But economists believe that Biden will create a stable and favorable economy for the United States that will benefit not only India but the world in the long run.

The next president, Donald Trump, made some tentative business deals. Harley Davidson was adamant about some deals, such as import duty. In the same way, Trump has consistently cut H-1 visa policy through America First's own narrow and protectionist policy. The biggest losers were Indian professionals.

There is no reason to believe that the new president will radically change all these measures overnight. But from his speech and his policy views, it can be said that he will think of long-term benefits first. He currently faces a number of challenges that he has to face. After overcoming the Corona, Biden is expected to focus on strengthening the US economy first. It will benefit countries all over the world. Biden will ease visa policy and announce some easing of trade policy.

However this task is not so easy to assume because the Democratic Party has a very modest majority in the Senate. Rising unemployment in the United States could put pressure on Biden to issue a visa waiver.


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