Trump’s Policy affecting Indian Market
Trump plans to revive business sentiments in the US. During his campaign, he talked extensively about cutting corporate tax rates and reducing government regulations. He has also talked about imposing tax on imports, in order to help the country’s local businesses thrive. This is likely to check inflation and generate employment.
Child’s education and career plans
We will have to shell out more when we send our children to study in the US .During 2016, the rupee had touched a low of 67.74 against the dollar. The year ended at a low of 67.90. In January 2017 itself, the exchange rate has started to get close to 69. According to the The Economy Forecast Agency, rupee will touch a low of 72.41 by December 2017 and slide further to 75-76 levels in 2018. This means that your expenses on education to the US will go up by 6.5% or more.
Jobs under fire
One of Trump’s popular slogans has been: Buy American, hire American. He wants American citizens to buy products that are manufactured locally and American companies to hire locals. The Indian IT and ITeS industries, which draw a major part of their earnings—60% and upwards—from the US market, will suffer if US companies reduce their outsourcing spends. It is too soon to say if people employed in this sector should be worried or not, but they definitely need to be watchful of how things progress .
But there is benefit also :Although Trump wants to put stricter immigration rules, he also says he wants to woo Indian entrepreneurs and students to the US.
Changes by Trumph creates worrying doubts alongside great expectations and you have to keep your fingers crossed till you discover what will actually happen.