Ramesh Damani Warns of Global Shifts as U.S. President Gains Unprecedented Power, India Prepared
New Delhi, 14th November 2024: India is currently in a secure position, yet the recent U.S. presidential election results may have significant global consequences, according to veteran investor Ramesh Damani.
Speaking at the CNBC-TV18 Global Leadership Summit yesterday, Damani highlighted a pivotal moment, remarking, “For the first time in 75 years, the U.S. president has virtually unchecked power.” He noted that the president-elect now commands influence over the House, Senate, White House, and Supreme Court, with strong public support as well.
With the Republican Party on track to control the House of Representatives and having maintained its Senate majority, Trump’s presidency could lead to sweeping policy shifts. Damani emphasized that this concentration of power enables Trump to fulfil the significant changes he pledged during his campaign.
Such consolidated authority may have profound implications for those who oppose his policies, Damani warned. He raised concerns that the U.S. might impose tariffs on countries limiting immigration, which could impact the global economy. “America was built on immigration,” he stated, comparing it to post-World War II when the U.S. rebuilt nations like Germany and Japan through the Marshall Plan. “Imagine if such cooperation existed between America and India today,” he added.
Damani further suggested that these developments could reshape the global landscape. “The world will likely look very different moving forward,” he observed. He assured, however, that India’s strong domestic and emerging economy positions it to weather these shifts effectively, concluding, “India will fare well, but the world around us may undergo significant changes.”
