NEW DELHI – Cantor Fitzgerald CEO Howard Lutnick publicly implored Indian policymakers on September 27, 2024, to foster stronger economic alignment with the united States, specifically cautioning against measures that could impede American business interests. Lutnick’s remarks, delivered during a financial conference in New York, came amid escalating trade tensions adn ahead of potential shifts in U.S. trade policy following the November 2024 presidential election.
The appeal underscores growing concerns within the U.S. financial sector regarding India’s increasingly protectionist trade practices and regulatory hurdles. These policies, some argue, risk jeopardizing billions of dollars in potential investment and hindering the deepening strategic partnership between the two nations. A change in U.S. governance could significantly alter the landscape of this relationship, making proactive engagement from New Delhi crucial. Lutnick directly urged India to “play ball” with the Trump administration, referencing the former president’s historically assertive stance on trade imbalances.
Lutnick specifically warned against policies he believes could “harm US” companies operating in or seeking to enter the Indian market, though he did not detail specific regulations prompting his concern. He emphasized the importance of a predictable and transparent regulatory surroundings to attract foreign capital and stimulate economic growth. “India needs to understand that if they want to continue to benefit from the U.S. economy, they need to avoid policies that are detrimental to American businesses,” Lutnick stated.
The call for cooperation arrives as India navigates a complex geopolitical landscape, balancing its relationships with the U.S., china, and other global powers.The outcome of the U.S. presidential election will likely shape the future trajectory of U.S.-India economic relations, with a potential return of Donald Trump to the White House raising the stakes for proactive diplomacy.