Trump says stock markets will crash if he loses election
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Trump says stock markets will crash if he loses election

The President’s quick trip may not though see any trade pact, but Trump said there will be a $3 billion dollar defence deal with India.

US President Donald Trump said on Tuesday that he is confident that his Republican Party will win the presidential elections scheduled for November this year.

“Our markets will jump thousands of points if I win; if I don’t it will fall drastically,” Trump said while interacting with Indian business leaders at the US Embassy in New Delhi.

“We are going to win again because if you look at what we have done, you will realise it. That is why you are happy in the United States,” added Trump, who is on a whirlwind, 36-hour, first official visit to India.

He also gave examples of the work done by his administration. “Earlier, it used to get 20 years to get roads and highways approved. We got it down drastically. Currently, it’s two years and we are trying to bring it down further. There could be this thing that a project may not get approved, because of the issues with the project, but otherwise, the process has been expedited by my administration,” said Trump.

Reliance Industries chairman Mukesh Ambani, Bharti Airtel chairman Sunil Mittal, Tata Sons chairman N Chandrasekaran, Mahindra Group Chairman Anand Mahindra, Larsen & Toubro chairman AM Naik and Biocon CMD Kiran Mazumdar-Shaw were among the CEOs who attended the meeting with Trump.

Trump, who recently said that the US economy has done well during his tenure of the last four years, is seeking investments from Indian companies mainly manufacturing ones to create jobs.

Some Indian manufacturing as well as services firms have noticeable presence in the US like Mahindra which last year said it will invest another $1 billion in America and was committed to creating American jobs, while Pune-based Bharat Forge has announced plans to invest $56 million to set up a new plant in North Carolina. Construction equipment major L&T has two delivery centres in the US.

The Tata Group is one of the largest Indian-headquartered multinationals in North America, with 13 companies and more than 35,000 employees.

The US economy rebounded in Q4 after prolonged sluggish productivity slowed the American economy to achieve the Trump administration’s target of three per cent annual growth. The economy grew 2.3 per cent in 2019, the slowest in three years, after logging 2.9 per cent in 2018.

The President’s quick trip may not though see any trade pact, but Trump said there will be a $3 billion dollar defence deal with India.