US Election 2024: CEO Sachin Alug of NLB Services Responds to Results

“Donald Trump’s victory in the US presidential election 2024 will have a profound impact on the global economy as well as on US-India bilateral ties, particularly in defense, technology, trade, geopolitics, and the Indian diaspora. The Trump administration would likely emphasize an “America First” approach, promoting domestic growth, controlling inflation, and encouraging re-shoring and industrialization.

The robust bilateral trade between US and India, reaching $118 billion in goods and services exchanged in FY 2023-24, will remain a key focus, but the new administration’s policies will undoubtedly influence its trajectory. With over 4.5 million Americans of Indian descent, according to the 2020 US Census, the Indian diaspora eagerly awaits the new administration’s policies and initiatives aimed at this significant community.

The election outcome will significantly impact the regulatory landscape for technology companies in critical areas like Artificial Intelligence (AI), Machine Learning (ML), data privacy, and antitrust laws. While technology leaders are planning to increase AI investments by 50% or more in the coming year, the progress of this critical sector hinges on the policies of the new administration.

Areas like cybersecurity, data protection, AI and Machine Learning, and the regulation of user data and content oversight will be impacted by the new administration’s approach, influencing the global demand for AI-specific talent, including in India. The new administration’s priorities will also shape the collaboration on climate change and technology transfer, both of which are crucial areas of cooperation for India and the US.”