The policy differences on trade, interest rates, immigration, and healthcare and the election outcome could shape India's banking, IT, pharmaceuticals, auto ancillaries, energy, real estate, and other sectors, as analysed by the firm.
The analysis says that Harris' win will come with a more accommodating stance by the U.S. Federal Reserve, and it will push the Reserve Bank of India (RBI) to ease rates domestically. This will benefit Indian non-banking financial companies (NBFCs), as falling interest rates could reduce funding costs and stimulate loan demand.
Contrary to it, Trump's win could keep interest rates elevated in the U.S., which will pressure the RBI to maintain higher rates, delay the rate cut and slightly favour public sector banks (PSBs) over NBFCs.
The Kamala Harris win will be favourable for the life insurers in India as the Democrat sides with the rate cut decision.
"A Republican outcome could be negative at the margin for insurance companies," the report says.
This story is from the November 03, 2024 edition of The Business Guardian.
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This story is from the November 03, 2024 edition of The Business Guardian.
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