India Election: What Narendra Modi’s Victory Means for the U.S. Economy

Narendra Modi’s victory in the Indian election is expected to improve trade ties between New Delhi and Washington and could eventually lift U.S. exports in industries ranging from pharmaceutical products to heavy infrastructure, U.S. officials and business leaders say.
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Narendra Modi addresses a public rally Friday after his party won its biggest victory in 30 years on promises to revitalize the economy.

 

Agence France-Presse/Getty Images

On Friday Mr. Modi, whose pro-business credentials during Gujarat’s rapid economic expansion have already lifted India’s stock market, led his Bharatiya Janata Party toward an apparent victory that could make him prime minister later this month.

Depending on which officials join his government, U.S. companies could benefit from a relaxing of recent policies that promoted Indian manufacturing and intellectual property at the expense of international rivals, U.S. business groups say.

“Looking at his reputation and track record in Gujarat, there were some good signs from his tenure there,” said Linda Dempsey, vice president of international economic affairs at the Washington-based National Association of Manufacturers, a trade group.

Below are some U.S. sectors that could see benefits or challenges under Mr. Modi’s government:

with thanks : WSJ : LINK : for detailed news.