Did the EU Deal Propel the US to Finalize its Agreement with India, Thanks to the Modi-Trump Bond?
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New Delhi, Feb 4 (NationPress) Billionaire investor Mark Mobius asserted on Wednesday that India’s recent trade collaboration with the European Union significantly influenced the United States to expedite its trade agreement with New Delhi.
While he acknowledges the beneficial rapport between Prime Minister Narendra Modi and US President Donald Trump, Mobius emphasized that the deal was primarily crafted through negotiations conducted by teams from both nations.
In a conversation with IANS, Mobius advised against labeling the India-US trade deal as the “father of all trade deals.”
“The Free Trade Agreement with the European Union is expected to be more impactful in comparison,” the renowned investor informed IANS.
He indicated that India’s choice to advance with the EU agreement demonstrated autonomy and might have prompted the US to act more swiftly in finalizing its arrangement with India.
When queried if Prime Minister Modi managed to obtain a favorable agreement from the US owing to his amicable relationship with Trump, Mobius reiterated that the deal was formed by negotiators from both sides.
“Nonetheless, the cordial relations between the two leaders certainly aided in streamlining the process,” he conveyed to IANS.
Regarding India’s economic progression, the seasoned investor expressed optimism. He stated that India is undoubtedly on course to become the third-largest economy shortly.
He highlighted India’s robust growth trajectory when compared to other leading emerging markets.
Discussing the stock markets, Mobius remarked that forecasting whether Indian markets will reach the 100,000 mark this year is challenging.
Currently, he believes such a drastic increase may not be feasible, as it would necessitate approximately a 20 percent surge, which appears overly ambitious at this time.
Mobius also pointed out the critical factors that could bolster India’s strong economic growth.
“The nation’s youthful demographic and rapid urbanization are cultivating a vast consumer base. Simultaneously, increasing exports are reinforcing the economy,” he mentioned.
“These elements will contribute to India maintaining elevated growth levels in the years ahead,” he remarked.