New Delhi:

Prime Minister Narendra Modi dialled President-elect Donald Trump to congratulate the American leader on winning the fiercely contested US presidential election. Both leaders agreed to work together for world peace.

Mr Trump in his victory speech today said one of the first things he would do is to stop wars. India, too, is a trusted mediator of both the West and Russia in calling for peaceful negotiations to end the war in Ukraine.

President-elect Trump conveyed in the phone call that “the whole world loves PM Modi”, and that India is “a magnificent country” and PM Modi is a “magnificent man”, sources said. Mr Trump told PM Modi that he considers him and India a true friend, sources said, adding PM Modi was one of the first world leaders Mr Trump spoke to after his victory.

PM Modi also posted about the phone call on X. “Had a great conversation with my friend, President Donald Trump, congratulating him on his spectacular victory. Looking forward to working closely together once again to further strengthen India-US relations across technology, defence, energy, space and several other sectors,” PM Modi said.

Had a great conversation with my friend, President @realDonaldTrump, congratulating him on his spectacular victory. Looking forward to working closely together once again to further strengthen India-US relations across technology, defence, energy, space and several other sectors.

— Narendra Modi (@narendramodi) November 6, 2024

India is no stranger to Mr Trump’s style of working. Both nations have seen ups and downs during Mr Trump’s last reign as US President from 2016 to 2020. While Mr Trump had been supportive of India on the fight against global terrorism, the billionaire businessman had been extremely tough on tariffs on American goods.

Mr Trump’s new presidency is likely to open new opportunities for India though certain sectors, especially pharma and IT, may face the heat if he decides to impose restrictions on imports and H1B visa regulations.

PM Modi’s friendly ties with Mr Trump will have a positive bearing on Indo-US relations, but India may have to adapt its strategies to maintain cooperation in areas of mutual interest, experts told news agency PTI.

“Trump’s presidency can be a new opportunity for India. Trump will impose tariffs and import restrictions on countries that he thinks are not friendly to the US, like China and even some European countries, and this can open markets for Indian exports,” former Vice Chairman of the government’s think tank NITI Aayog Rajiv Kumar said.

Barclays, in a research report on Wednesday, said trade policy is where Mr Trump is likely to be “most consequential” for emerging Asia, which includes India and China.

However, some experts say Mr Trump’s trade protectionist views could have some negative impact on India’s exports and might exert some pressure on the rupee in the short term. Since Mr Trump’s protectionist philosophy of economics is well-known, the process of globalisation may become more strategic and less fair to emerging economies, including India, National Institute of Public Finance and Policy visiting Professor Pinaki Chakraborty said.

Mr Trump defeated the Democratic presidential candiate Kamala Harris in a stunning political comeback. World leaders swiftly pledged to work with Mr Trump, led by Israel and Ukraine where the course of wars could depend on the new US President’s isolationist “America First” foreign policy.

With inputs from agencies

New Delhi:

Former President Donald Trump delivered a speech on Wednesday at his Mar-a-Lago resort in Florida as he inched closer to victory in the recently-concluded US election, vowing to heal the country.