President-elect Donald Trump has said he is a big fan of India. Could his business interests there be the reason?
India accounts for the largest chunk of Trump businesses outside the United States — 16 of the 111 that he has in 18 countries, according to an analysis of his personal finance disclosure by The Washington Post.
His Indian business interests have received new attention and scrutiny following his meeting with three business associates from Mumbai last week, in the middle of picking his cabinet and other members of his administration.
There are fears Trump’s presidency could be used to further his business interests and he is under pressure to announce a plan on how he will distance himself and his office from his companies here in the US and abroad.
His businesses abroad range from luxury real-estate, one-man holding corporations and branding deals. Some of those in India included DT India Venture, DT India Venture Managing Member Corp, DT Marks Gurgaon LLC, DT Marks Gurgaon Managing Member Corp, DT Marks Pune LLC, DT Marks Pune Managing Member Corporation, DT Marks Pune II LLC, DT Marks Pune II managing corporate, DT Marks Worli LLC, DT Marks Worli Member Corp, DT Tower Gurgaon LLC and DT Tower Gurgaon managing Member Corporation.
The financial disclosure did not specify what each of these companies do, but Trump has several real-estate projects running in India, according to news reports citing his local business associates and representatives.
Trump has five ongoing deals in India with a gross development value of about $1.5 billion, according to Kalpesh Mehta, founder and managing partner of Tribeca, a Mumbai-based developer and the exclusive India representative for Trump Organisation.
He told Hindustan Times days after Trump’s victory on November 8, “One project is finished and sales for two have begun. Three more projects are likely to be launched in 2017. Demand for the Trump brand in India remains strong.”
Mehta had said India “probably” has the highest number of Trump’s real estate projects outside North America.
Though it’s not clear if all of Trump’s business interests in India are in real-estate business — his Democratic rival Hillary Clinton used to attack him for sourcing photo-frames from India — but they do form the largest portion of his interests outside the US. with inputs from Jyotindra Dubey