🇺🇸 How will the US elections impact India?

Good morning. Yesterday was the final day to vote in the US elections. Tomorrow the vote would be out. Today we wait.

- Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• 🇺🇸 How will the US elections impact India?

• 🗞️ Bite-sized summaries

  • 📈 Swiggy preps for IPO

  • 🇨🇳 China isn’t too pleased

• 🧑‍🍳 What else is cookin’?

• 🍿 Entertainment, Entertainment, Entertainment

MARKETS

🇮🇳 India

• Stock markets rebounded. This recovery was driven by strong performances in the banking and metal sectors, buoyed by expectations of stimulus from China and improved domestic manufacturing data. Investors remain cautious ahead of US election results and Federal Reserve meetings

US ELECTIONS

🇺🇸 How will the US elections impact India?

It’s officially that time when the world looks to the West and awaits the final results of the US election.

As the US heads to the polls, foreign policy experts predict strong US-India relations regardless of the election outcome.

Here’s what that means:

• Dhruva Jaishankar of the Observer Research Foundation highlights that Republican candidate Donald Trump and Democratic candidate Kamala Harris are likely to maintain positive ties with India, though their approaches may differ.

• Under a Trump administration, trade and immigration might see tougher negotiations, while energy cooperation would likely emphasize fossil fuels.

• Meanwhile, Harris may bring a progressive agenda with a focus on climate initiatives and renewable energy.

• Kapil Sharma from the Atlantic Council stresses that the next US president will have no choice but to engage closely with India, which is on track to become the world’s second-largest economy within a few decades. He is confident the relationship will remain resilient despite potential challenges. Anang Mittal, a Capitol Hill veteran, suggests that Trump could be more openly friendly toward India than Harris, given his past support.

Overall: In a tight race, the Indian-American vote in battleground states could play a critical role. Although historically leaning Democratic, there may be a minor shift among young male voters favouring Trump, according to Jaishankar.

With both candidates acknowledging India's strategic importance, the US-India partnership appears poised to deepen, irrespective of the election’s outcome.

Read more: Times of India

GENERAL OVERVIEW

🗞️ Bite-sized summaries

📈 Swiggy preps for IPO - Swiggy has raised $605 million from over 75 anchor investors, including Blackrock, Fidelity, SBI Mutual Fund, and others, ahead of its $1.35 billion IPO. Shares were priced at Rs 390 each, the upper end of the IPO’s price band, valuing the company at $11.3 billion—6% above its previous valuation of $10.7 billion in January 2022. The IPO, one of India's largest this year, includes a secondary sale of Rs 6,800 crore and Rs 4,499 crore in primary capital, set to launch on Wednesday. Domestic and international interest in the anchor round was high, with 56% allocated domestically.

🇨🇳 China isn’t too pleased - China has filed a complaint with the World Trade Organization (WTO) against the European Union’s (EU) recent imposition of tariffs on Chinese electric vehicles (EVs), which range up to 35% and are set to last for five years. The EU claims these tariffs address unfair competition, as Chinese EVs allegedly undercut EU market prices due to government subsidies. China argues that the tariffs are "protectionist" and violate WTO rules, framing them as an obstacle to the global push toward green technology. EU official Valdis Dombrovskis defended the tariffs as "proportionate" measures to ensure fair market practices.

HEADLINES

🧑‍🍳 What else is cookin’?

What’s happening in India (and around the world 🌍️)

• Shanghai unveils green shipping plan as new emissions rules loom.

• Boeing factory strike ends as workers vote to accept contract.

• NYT tech workers strike ahead of Election Day.

• Jeff Bezos and OpenAI invest in robot startup Physical Intelligence at $2.4 billion valuation.

• Meta nuclear-powered AI data centre scuppered by discovery of rare bee species.

CULTURE

🍿 Entertainment, Entertainment, Entertainment

• Kareena Kapoor's next untitled film with Meghna Gulzar gets Prithviraj Sukumaran on board.

• Shoojit Sircar’s I Want To Talk, starring Abhishek Bachan trailer out now.